Acceptance in United States

Acceptance Definition

(Lat. acdpere). Of Property. The receipt of a thing offered by another with an intention to retain it, indicated by some act sufficient for the purpose. 2 Pars. Cont. 221. , Tile element of receipt must enter into every acceptance, though receipt does not necessarily mean, in this sense, actual manual taking. To this element there must be added an intention to retain. This retention may exist at the time of the receipt, or subsequently; it may be indicated by words, or acts, or any medium understood by the parties; and an acceptance of goods will be implied from mere detention, in many instances. An acceptance involves very generally the idea of a receipt in consequence of a previous undertaking, on the part of the person offering, to deliver such a thing as the party accepting is in some manner bound to receive. It is through this meaning that the term acceptance, as used in reference to bills of exchange, has a relation to the more general use of the term; As distinguished from assent, acceptance would denote receipt of something in compliance and satisfactory fulfillment of a contract to which assent has been previously given. See Assent. Of Bills of Exchange. An engagement to pay the bill in money when due. 4 East, 72; 19 Law J. 297. Acceptances of bills of exchange are:
(1) Absolute, being a positive engagement to pay the bill according to its tenor.
(2) Conditional, being an undertaking to pay the bill on a contingency.
(3) Partial, being one varying from the tenor of the bill.
(4) Qualified, being either conditional or partial.
(5) Supra protest, being the acceptance of the bill after protest for nonacceptance by the drawee, for the honor of the drawer, or a particular indorser. They are also either:
(6) Express, being an undertaking in direct and express terms to pay the bill.
(7) Implied, being an undertaking to pay the bill inferred from acts of a character fairly to warrant such an inference.

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Legal Issue for Attorneys

(Lat. acdpere). Of Property. The receipt of a thing offered by another with an intention to retain it, indicated by some act sufficient for the purpose. 2 Pars. Cont. 221. , Tile element of receipt must enter into every acceptance, though receipt does not necessarily mean, in this sense, actual manual taking. To this element there must be added an intention to retain. This retention may exist at the time of the receipt, or subsequently; it may be indicated by words, or acts, or any medium understood by the parties; and an acceptance of goods will be implied from mere detention, in many instances. An acceptance involves very generally the idea of a receipt in consequence of a previous undertaking, on the part of the person offering, to deliver such a thing as the party accepting is in some manner bound to receive. It is through this meaning that the term acceptance, as used in reference to bills of exchange, has a relation to the more general use of the term; As distinguished from assent, acceptance would denote receipt of something in compliance and satisfactory fulfillment of a contract to which assent has been previously given. See Assent. Of Bills of Exchange. An engagement to pay the bill in money when due. 4 East, 72; 19 Law J. 297. Acceptances of bills of exchange are:
(1) Absolute, being a positive engagement to pay the bill according to its tenor.
(2) Conditional, being an undertaking to pay the bill on a contingency.
(3) Partial, being one varying from the tenor of the bill.
(4) Qualified, being either conditional or partial.
(5) Supra protest, being the acceptance of the bill after protest for nonacceptance by the drawee, for the honor of the drawer, or a particular indorser. They are also either:
(6) Express, being an undertaking in direct and express terms to pay the bill.
(7) Implied, being an undertaking to pay the bill inferred from acts of a character fairly to warrant such an inference.

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This definition of Acceptance is based on The Cyclopedic Law Dictionary. This entry needs to be proofread.

Practical Information

Note: Some of this information was last updated in 1982

See contracts (in U.S. law).

(Revised by Ann De Vries)

What is Acceptance?

For a meaning of it, read Acceptance in the Legal Dictionary here. Browse and search more U.S. and international free legal definitions and legal terms related to Acceptance.

Acceptance and installation (merit selection) in relation to Public Officers

Find out in this American legal Encyclopedia the information on Acceptance and installation (merit selection) in relation to Public Officers (and in the context of local government law).

Acceptance Explained

References

See Also

• Contracts

Acceptance (Form)

This section introduces, discusses and describes the basics of acceptance. Then, cross references and a brief overview about Form is provided. Finally, the subject of Sales in relation with acceptance is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

Acceptance (Formation)

This section
introduces, discusses and describes the basics of acceptance. Then, cross references and a brief overview about Formation is provided. Finally, the subject of Sales in relation with acceptance is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

Acceptance (Party Liabilities)

This section introduces, discusses and describes the basics of acceptance. Then, cross references and a brief overview about Party Liabilities is provided. Finally, the subject of Negotiable Instruments in relation with acceptance is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

Acceptance (Plans)

This section introduces, discusses and describes the basics of acceptance. Then, cross references and a brief overview about Plans is provided. Finally, the subject of Reorganizations in relation with acceptance is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.

Acceptance (Readjustment)

This section introduces, discusses and describes the basics of acceptance. Then, cross references and a brief overview about Readjustment is provided. Finally, the subject of Sales in relation with acceptance is examined. Note that a list of cross references, bibliography and other resources appears at the end of this entry.