Contract Law Week 3

What does acceptance in contract law entail?

Which statement best describes the rules of acceptance?

Inferred acceptance can be determined by which of the following?

How is silence generally treated in terms of acceptance?

What is the Postal Acceptance Rule?

In modern communication methods, when is acceptance considered valid?

Which of the following is an example of non-acceptance?

What characterizes an effective acceptance of an offer?

If acceptance occurs via telex, when is the contract formed?

Which of the following actions is NOT considered valid acceptance?

Acceptance in Contract Law

Acceptance refers to the agreement to the terms proposed in an offer.
It can be expressed verbally, in writing, or through actions that confirm agreement.
Valid acceptance requires clear communication to the offeror.

Rules of Acceptance

Acceptance must be unequivocal and free of conditions or modifications.
Adhere to any prescribed method of acceptance specified by the offeror.
An expression of indecision, such as "I'll think about it," is not deemed valid acceptance.

Inferred Acceptance

Acceptance can sometimes be inferred from actions rather than explicit agreement.
Courts may recognize acceptance in situations where parties continue business practices without a formal contract.

Silence as Acceptance

Generally, silence cannot be interpreted as acceptance of an offer.
A statement suggesting "If I don’t hear from you, I’ll assume agreement" does not constitute valid acceptance.

Postal Acceptance Rule

When acceptance occurs via mail, it is deemed valid at the moment of posting, rather than upon receipt.
This rule applies only if the offeror has not specified an alternative acceptance method.

Instant Communication Methods

Acceptance through modern communication methods (e.g., email, fax) is considered valid upon receipt.
Example: In cases of telex communication, a contract is formed where the acceptance message is received.

This quiz covers the key concepts of acceptance in contract law from Week 3's lecture. Understand the rules surrounding how acceptance must be communicated and the importance of clarity in agreeing to terms. Test your knowledge on the different methods and conditions of acceptance.