Business Law exam 2

Last update by chadcozean on 06/21/2011
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–Acceptance-upon-dispatch rule. –Acceptance is effective when dispatched, even if it is lost in transmission. •Potential for confusion. Wise offeror may state in offer that acceptance effective upon receipt. –If offeree first dispatches a rejection and then sends acceptance, mailbox rule does not apply.

Answer:
mailbox rule

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    –Acceptance must be properly dispatched. •Properly addressed, packaged, and posted –Under common law, if acceptance is not properly dispatched, it is not effective until actually received by the offeror.
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