American Case Law
In the United States, the majority rule is that the mailbox rule does not apply to option contracts. By default, an option contract is accepted when the offeror receives the acceptance, not when the offeree mails it. However, because the California Civil Code applies the mailbox rule to all contracts, California follows the minority rule, under which the mailbox rule also applies to option contracts.
Read more about this topic: Posting Rule
Famous quotes containing the words american, case and/or law:
“Were they to emigrate in a body to man the navies of the moon, almost every thing would stop here on earth except its revolution on its axis, and the orators in the American Congress.”
—Herman Melville (1819–1891)
“One thing in any case is certain: man is neither the oldest nor the most constant problem that has been posed for human knowledge.”
—Michel Foucault (1926–1984)
“They are free, but not entirely free. For Law is despot over them, and they fear him much more than your men fear you.”
—Herodotus (c. 484–424 B.C.)