BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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written by the offeree.
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mailed by the offeree.
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received by the offerer.
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received by the offeree.
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Detailed explanation-1: -The mailbox rule (also called the posting rule), which is the default rule under contract law for determining the time at which an offer is accepted, states that an offer is considered accepted at the time that the acceptance is communicated (whether by mail e-mail, etc).
Detailed explanation-2: -The rules of contracts by post (postal rules) include the following: An offer made by post/letter is not effective until received by the offeree. Acceptance is effective as soon as it is posted. For revocation to be effective, it must be received by the offeree before they post their letter of acceptance.
Detailed explanation-3: -The general rule in law states that acceptance is communicated, and has been received by the offeror . The ruling applies where the means of communication are deemed instantaneous Entores Ltd v Miles Far East Corpn (1955).