Generally, Acceptance Must Be Communicated to the Offeror to Be

question 176

True/False

Generally, acceptance must be communicated to the offeror to be effective unless there has been a history of similar relations between the parties.

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Definitions:

Cash

Physical currency such as coins and banknotes or the equivalent in bank balances that can be immediately accessible.

Book Cash

The amount of cash on hand as recorded in the financial records of a company.

Bank Cash

Bank Cash refers to the liquid assets held by a financial institution that is readily available for transactions and immediate withdrawal.

Cheques

A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer or to a specified person, out of the drawer's bank account.