BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Express
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Implied
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Mental acceptance
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Both (a) & (b)
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Detailed explanation-1: -There are two types of bill acceptances: general acceptance and qualified acceptance.
Detailed explanation-2: -The Indian Contract Act 1872 defines acceptance in Section 2 (b) as “When the person to whom the proposal has been made signifies his assent thereto, the offer is said to be accepted. Thus the proposal when accepted becomes a promise.”
Detailed explanation-3: -There are three types of acceptance: Empress acceptance. Implied acceptance. Conditional acceptance.
Detailed explanation-4: -The communicated acceptance, whether it is by words or conduct, must allow one to objectively conclude that the offeree is consenting to the terms of the offeror. This is an overarching rule that can apply to all cases.