BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
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That the offer is accepted as soon as the letter of acceptance is posted.
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That the offer is accepted as soon as the letter of acceptance is received.
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That the offer is accepted as soon as the letter of acceptance is signed.
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That the offer must be accepted by post and correctly stamped.
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Detailed explanation-1: -Postal rule states that acceptance occurs as soon as the letter is posted.. According to the postal rule, there is a contract which makes the acceptance possible when the letter gets posted. Postal rule is often referred as a rule of contract law.
Detailed explanation-2: -The postal rule is a series of rules which govern the situations in which an offer and an acceptance is not made in-person. These rules include that an offer made by post or by a letter is not effective until the other person has received it.
Detailed explanation-3: -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-4: -The exception to this rule is the Postal Rule. Where post is the requested form of communication between parties or where it is an appropriate and accepted means of communication between parties, acceptance is complete as soon as the letter is posted.
Detailed explanation-5: -The postal rule which is applied in the case of communication through letters states that, when acceptance is given by post, the communication of the acceptance is complete as against the proposer, when the letter of the acceptance is posted.