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QuestionAnswer
Acceptance In contracts, occurs when a party to whom an offer has been made agrees to the proposal; in commercial paper, drawee's promise to pay the obligee of a draft when teh instrument is due.
Mirror Image Rule Requires that the terms in the acceptance must exactly match the terms contained in the offer.
Bilateral Contracts Offeree can accept offer by giving a promise to the offeror instead of performing the contracted-for act.
Unilateral Contracts Offeror promises something in return for the offree's performance and indicates that this performance is the way acceptance must be made.
Created by: Chanse.j_
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