„Acceptance“

What does Acceptance stand for?

1. A draft calling for payment at a future date which the drawee has agreed to pay by signing “Accepted” on the draft.2. An unconditional assent to an offer; or an assent to an offer conditioned on only minor changes that do not affect any material terms of the offer;
3. An agreement to purchase goods on specified terms.
4. Receipt of a shipment by a consignee thus terminating the liability of the carrier for delivery.

Source:

Emerson, R.W. (2009). “Business Law” (5th ed.). Barron’s Educational Series.

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