2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16
Sometimes all the paths and ruts of financial activity are difficult to understand and analyze. There are new terms, new rules and conditions. A striking example of this is the acceptance, which absorbs several semantic meanings at once. Today we will try to fully outline its meaning and direction. So what is acceptance?
Definitions
There are 3 definitions that most vividly and fully express the meaning of this word:
- This is the consent of a person to conduct a transaction addressed to him with the help of an offer. A distinctive feature of the acceptance is that the consent is unconditional, that is, the participant fully and completely accepts all the conditions for the operation.
- This is the form by which securities (such as checks and bills) are settled. This may include banking services for individuals.
- The consent of the designated person to pay the payment request, thus making payments for the delivery of products by the supplier according to the contract.
- Banker's acceptance - a bill issued by a bank. Its distinguishing feature is low riskdefault.
Contract stage
What is an acceptance? It represents one of several stages of the transaction. Here begins a kind of branching into two systems that interpret this process in different ways. In Italy, Germany and France, the contract is considered concluded when the offeror receives an acceptance. The second system is somewhat different. In England, Japan and the USA, the contract enters into force at the moment of sending a positive response to the offeror's mail. This system is figuratively called the "mailbox system". Even if the acceptance came to the post office with a certain delay, and it was sent at the appointed time, the contract will still be concluded. In this system, such a response is not considered overdue, therefore, there are no problems in approving the transaction. But there are also moments when the offer itself reaches the acceptor with a delay. In this case, the responding party should immediately notify the sender, who, in turn, will send a notice of the correct and timely sending of the acceptance. Pretty fair deal terms. What is an acceptance and what are its features based on Russian legislation? Its main properties are completeness and unconditionality. When the response to the offer comes in such a way that the acceptor agrees to conclude a deal with slightly different conditions, the contract is immediately considered invalid and a new one is drawn up.
Acceptance Forms
There are several forms, usingwhich you can make a response to the offer:
- Written reply. Its transmission is possible by fax, telegraph and other improvised means.
- Public offer. A striking example of this is the display of products on the shelves and shop windows. Acceptance in this case is the purchase of goods by the consumer.
- Completion of the actions specified in the contract at the appointed time. Such processes are called "conclusive".
- Silence, which, when the threshold is reached for more than 10 days, is considered a positive response to the offer. As a rule, this form of acceptance is most often used in property proceedings.
Today we figured out what acceptance is, and also studied its main directions and conditions under which it is valid.
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