Sometimes all the ways and ruts of financial activity are difficult to understand and analyze. New terms, new terms and conditions appear. A striking example of this is the acceptance, which incorporates several semantic meanings at once. Today we will try to fully indicate its meaning and orientation. So what is acceptance?
Definitions
There are 3 definitions that most clearly and fully express the meaning of a given word:
- This is the consent of a person to conduct a transaction addressed to him through 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 are settled (for example, checks and bills). This may include banking services for individuals.
- The consent of the designated person to pay the payment claim, thus making the calculations for the delivery of products by the supplier according to the contract.
- Bank acceptance - a bill issued by any bank. Its hallmark is the low risk of default.
Contract stage
What is acceptance? It represents one of several stages of a deal. Here begins a kind of branching into two systems that interpret this process differently. In Italy, Germany and France, a contract is considered concluded when the offeror receives an acceptance. The second system is slightly different. In England, Japan and the USA, the contract comes into force at the time of sending a positive response to the provider'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 an answer is not considered overdue, therefore, there are no problems in approving the transaction. But there are times when the offer itself reaches the acceptor belatedly. In this case, the responding party should immediately notify the sender of this, who, in turn, will send a notice on the correct and timely sending of the acceptance. Fair conditions for the conclusion of the transaction. What is acceptance and what are its features based on Russian law? Its main properties are completeness and unconditionalness. When the response to the offer comes in such a way that the acceptor agrees to conclude a transaction with slightly different conditions, the contract is immediately considered invalid and a new one is drawn up.
Forms of acceptance
There are several forms with which you can produce an answer to the offer:
- Written response. Its transmission is possible by fax, telegraph and other improvised means.
- Public offer. A vivid 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.
- The performance of the actions specified in the contract at the appointed time. Such processes are called "conformal".
- Silence, which upon reaching the threshold of 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 processes.
Today we figured out what acceptance is, and also studied its main directions and the conditions under which it is valid.