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:
“Even an attorney of moderate talent can postpone doomsday year after year, for the system of appeals that pervades American jurisprudence amounts to a legalistic wheel of fortune, a game of chance, somewhat fixed in the favor of the criminal, that the participants play interminably.”
—Truman Capote (19241984)
“What do you think of the human mind? I mean, in case you think there is a human mind.”
—Mark Twain [Samuel Langhorne Clemens] (18351910)
“Our law very often reminds one of those outskirts of cities where you cannot for a long time tell how the streets come to wind about in so capricious and serpent-like a manner. At last it strikes you that they grew up, house by house, on the devious tracks of the old green lanes; and if you follow on to the existing fields, you may often find the change half complete.”
—Walter Bagehot (18261877)