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baddestbunny
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Simple English definitions for legal terms
express acceptance
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A quick definition of express acceptance:
Express acceptance is when someone agrees to the terms of an offer either by saying it or writing it down. This creates a binding contract between the two parties. If the acceptance changes the terms of the offer, it becomes a counteroffer. Acceptance by silence is not usually considered valid, unless the offeror expects a response and the lack of one implies acceptance. Qualified acceptance is when someone agrees to some of the terms of an offer but changes others, which creates a counteroffer. In the context of buying goods, acceptance means agreeing to take the goods as part of a contract for sale. In the context of negotiable instruments, acceptance means agreeing to pay the instrument. There are different types of acceptance, such as accommodation acceptance, banker's acceptance, and trade acceptance.A more thorough explanation:
Definition: Express acceptance is a type of acceptance in contract law where the offeree explicitly agrees to the terms of an offer, either through words or actions, as authorized or requested by the offeror. This creates a binding contract between the parties.
Example: If a seller offers to sell a car to a buyer for $10,000 and the buyer responds by saying "I accept your offer," this is an example of express acceptance. The buyer has explicitly agreed to the terms of the offer and a binding contract is formed.
Another example of express acceptance is when a buyer signs a contract for the purchase of goods, indicating their agreement to the terms and conditions outlined in the contract.
These examples illustrate how express acceptance requires a clear and explicit agreement to the terms of an offer, either through words or actions.