What is an Acceptance in Contract Law?
What is an Acceptance in Contract Law?
What is an Acceptance in Contract Law? The Acceptance meaning and the essentials of valid acceptance are briefly explained in this article. Generally, the meaning of acceptance refers to one person’s compliance with the terms of an offer made by another. Acceptance is judged objectively, but can either be expressly stated or implied by the offeree’s conduct.
The offer and acceptance play an important role in the formation of a contract. In this article, we will cover all important provisions relating the acceptance like What is Acceptance in Contract Law? the meaning of acceptance, essentials of valid acceptance, the legal rules of a valid acceptance in contract law, and the types of acceptance.
We already covered the provisions relating to a What is an Offer in Law in Contract Law?
Meaning and Definition of Acceptance
You may ask What is an Acceptance in Contract Law? Generally, acceptance means giving assent and agreeing with the terms and conditions of the other person’s offer. Acceptance meaning in Hindi is “स्वीकार करणे.”
The Acceptance in Contract Law Definition is given under section 2 (b) of the Indian Contract Act, 1872. Acceptance means, “When the person to whom the proposal is made signifies his assent thereto, the proposal is said to be accepted. The proposal when accepted becomes a promise.”
As per the above definitions, acceptance means the person or group of persons to whom the offer is made by the offeree is said to be accepted when the other party gives assent to the offer without any condition.
The offer can be revoked before giving acceptance to the offer. Once the offer is accepted then it cannot be revokable.
Example: X makes an offer to buy Y’s motorcycle for Rs. 50,000/- and B accepts this. Now, this is a promise and it cannot be revoked.
To understand the concept of acceptance we have to learn about the basic legal rules regarding valid acceptance and the essential elements of acceptance in contract law.
Read Full Article — What is an Acceptance in Contract Law?
