The general rule regarding the effective date and time an acceptance becomes binding is:
A) when the parties intend.
B) three days after receipt of the acceptance.
C) three days after acceptance is sent.
D) upon receipt by the offeree.

Question

Quizplus · Accepted Answer

The general rule is that an acceptance becomes binding when the parties intend. This means that if the parties have explicitly or implicitly agreed on when the acceptance should take effect, that will be the effective date and time. If there is no such agreement, the law will consider all the circumstances to determine the parties' intentions, such as the method of communication, the nature of the transaction, and the course of dealing between the parties. Therefore, option A is the best choice.

The General Rule Regarding the Effective Date and Time an Acceptance