Asked by Grant Friesen on Apr 29, 2024
Verified
Under the mailbox rule,the acceptance of an offer is effective at the time the acceptance is dispatched unless:
A) both the offeror and offeree are merchants.
B) the offer proposes a sale of real estate.
C) the acceptance is not in the authorized mode of communication.
D) the acceptance is lost or never reaches the offeror.
Mailbox Rule
A legal principle stating that an offer is considered accepted once the acceptance is dispatched (e.g., mailed), not when it is received by the offeror.
Authorized Mode
The officially approved method or manner of conducting actions, operations, or procedures, often specified in legal, regulatory, or organizational guidelines.
- Learn about the role that communication modes play in the approval process and the adoption of the mailbox rule.
Verified Answer
JW
Julia WitekMay 05, 2024
Final Answer :
C
Explanation :
An improperly dispatched acceptance or one that was sent by some means of communication that was nonauthorized does not come under the purview of the mailbox rule and would be effective only when received,assuming that the offer was still open at that time.
Learning Objectives
- Learn about the role that communication modes play in the approval process and the adoption of the mailbox rule.