acceptance

In contract law, an offer and acceptance are fundamental to forming a legally binding agreement. An offer is a proposal made by one party (the offeror) to another (the offeree), outlining the terms of a potential contract. Acceptance occurs when the offeree agrees to the terms of the offer.

Different legal systems have varying rules regarding when an offer can be revoked and when an acceptance becomes effective. For instance, in Anglo-American common law, an acceptance by correspondence is generally effective upon dispatch, unless the offeror specifies otherwise. Conversely, German law typically requires the acceptance to reach the offeror to be effective. These rules help parties distinguish between negotiation and commitment, ensuring clarity and facilitating commerce.12