- acceptance
- The taking and receiving of anything in good part, and as it were a tacit agreement to a preceding act, which might have been defeated or avoided if such acceptance had not been made. The act of a person to whom a thing is offered or tendered by another, whereby he receives the thing with the intention of retaining it, such intention being evidenced by a sufficient act. Aetna Inv. Corporation v. Chandler Landscape & Floral Co., 227 Mo.App. 17, 50 S.W.2d 195, 197.The exercise of power conferred by an offer by performance of some act. In re Larney's Estate, 148 Misc. 871, 266 N.Y.S. 564.Commercial paperAcceptance is the drawee's signed engagement to honor the draft as presented. It must be written on the draft, and may consist of his signature alone. It becomes operative when completed by delivery or notification. U.C.C. No. 3-410.Certification of a check is acceptance. U.C.C. No. 3-411.A draft may be accepted although it has not been signed by the drawer or is otherwise incomplete or is overdue or has been dishonored. U.C.C. No. 3-410(2).See also acceptor- honor.Contracts.Compliance by offeree with terms and conditions of offer constitute an "acceptance". Davis & Clanton v. C. I. T. Corporation, 190 S.C. 151, 2 S.E.2d 382, 383.A manifestation of assent to terms thereof made by offeree in a manner-invited or required by offer. K-Line Builders, Inc. v. First Federal Sa. & Loan Ass'n, App., 139 Ariz. 209, 677 P.2d 1317, 1320.The offeree's notification or expression to the offeror that he or she agrees to be bound by the terms of the offerer's proposal, a contract is thereby created.The trend is to allow acceptance by any means that will reasonably notify the offeror of the acceptance.See also confirmation- offer and acceptance.InsuranceIn a contract of insurance, the "acceptance" occurs when insurer agrees to accept application and to issue policy. Acacia Mut. Life Ass'n v. Berry, 54 Ariz. 208, 94 P.2d 770, 772.Delay or inaction on the part of an insurer cannot constitute an "acceptance". French American Banking Corporation v. Fireman's Fund Ins. Co., D.C.N.Y., 43 F.Supp. 494, 498.More than mere mental resolution or determination on part of insurer to accept application is required; such must be communicated to applicant. Limbaugh v. Monarch Life Ins. Co., Springfield, Mass., Mo.App., 84 S.W.2d 208, 212.Term as applied to policy means assent, acquiescence or agreement to terms and conditions of policy. Baker v. St. Paul Fire & Marine Ins. Co., Mo.App., 427 S.W.2d 281, 291.Sale of goods.U.C.C. No. 2-606 provides three ways a buyer can accept goods:(1) by signifying to the seller that the goods are conforming or that he will accept them in spite of their nonconformity,(2) by failing to make an effective rejection, and(3) by doing an act inconsistent with the seller's ownership. Acceptance of a part of any commercial unit is acceptance of that entire unit.Types of acceptance.Conditional. An engagement to pay the draft or accept the offer on the happening of a condition. A "conditional acceptance" is in effect a statement that the offeree is willing to enter into a bargain differing in some respects from that proposed in the original offer. The conditional acceptance is, therefore, itself a counter offer.Express. An undertaking in direct and express terms to perform the terms of the contract, pay the bill, draft, etc.; an absolute acceptance.Implied. An undertaking to pay the draft inferred from acts of the drawee of a character which fairly warrant such an inference. In case of a bilateral contract, "acceptance" of an offer need not be expressed, but may be shown by any words or acts indicating the offeree's assent to the proposed bargain.Qualified. One either conditional or partial, and which introduces a variation in the sum, mode, or place of payment.In contract law, an acceptance based on a variation of the terms of the offer and hence a counteroffer. In negotiable instruments, a variation in the terms of the instrument by the acceptorSee also acceptance au besoinacceptance au besoin/akseptons 6w bazwaen/Fr. acceptance in case of needAn acceptance by one whom a bill is drawn au besoin, that is, in case of refusal or failure of the drawee to acceptSee also acceptance
Black's law dictionary. HENRY CAMPBELL BLACK, M. A.. 1990.
