Asked by Srishti Sharma on May 08, 2024
Verified
An acceptance of an offer applies when and where it is received except when it is communicated by telephone.
Acceptance
The act of agreeing to the terms of an offer, thereby forming a contract.
Offer
A tentative promise to do something if another party consents to do what the first party requests.
Telephone
A telecommunications device that allows two or more users to conduct a conversation when they are too far apart to be heard directly.
- Comprehend the fundamentals of offer, acceptance, and consideration in contract formation.
Verified Answer
SR
Shahd RashadMay 09, 2024
Final Answer :
False
Explanation :
An acceptance of an offer is generally considered effective when it is sent, not when it is received, according to the mailbox rule. However, acceptances communicated by instant forms of communication, like telephone, are exceptions and are effective upon receipt.
Learning Objectives
- Comprehend the fundamentals of offer, acceptance, and consideration in contract formation.
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