Dictionary

  • Postal acceptance rule

    A rule which provides that when an offer is expected to be accpted by post, the time and place at which acceptance of the offer takes place (and consequently, at which time the contract is formed) is the time and place at which the letter accepting the offer is posted. The rule will not apply if it is clear that the offeror does not intend the contract to become binding until acceptance has been communicated to him/her.

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