Under the Mailbox Rule, an Acceptance Is Only Effective When

question 14

True/False

Under the mailbox rule, an acceptance is only effective when it is received.

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Definitions:

Express Contract

A contract where the terms and conditions are clearly stated and agreed upon by all parties involved, either verbally or in writing.

Pay Damages

The act of compensating someone for loss or injury as determined by a court judgment or settlement agreement.

Promised To Pay

A commitment or agreement to fulfill a financial obligation, such as a bill or debt, in the future.

Implied Contract

A contract formed by the actions, behavior, or circumstances of the parties involved, rather than written or spoken words.