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Acceptance

Acceptance

Take a look at the next step in contract formation: acceptance of the offer, meaning the offeree’s manifestation of intent to the terms of the offer, along with who may accept and the workings of the mailbox rule.

Transcript

The formation of a contract requires that an offer be accepted. The Second Restatement of Contracts defines an acceptance as the manifestation of assent to the terms of an offer. Today, you’ll be learning about the various aspects of acceptance.

First, we’ll discuss who has the power to accept an offer. Next, we’ll talk about when a response becomes an acceptance under the mailbox rule. After that, we’ll look at methods of acceptance. Finally, we’ll discuss what an acceptance should look like...

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