„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:
Financial and BankingView all itemsEmerson, R.W. (2009). “Business Law” (5th ed.). Barron’s Educational Series.