The Postbox Rule Prohibits the Formation of Contracts Through the Mail

question 25

True/False

The postbox rule prohibits the formation of contracts through the mail.

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Definitions:

Fully Executed

A contract or agreement that has been completely signed by all parties involved and all the terms are fully met.

Rescinded by Agreement

The mutual decision of parties involved in a contract to cancel or nullify the agreement.

Anticipatory Repudiation

An assertion or action by a party indicating that he or she will not perform an obligation that he or she is contractually obligated to perform at a future time.

Material Breach

A significant violation of a contract that substantially undermines the agreement, giving the aggrieved party the right to seek legal remedies.