Posting Rule - American Case Law

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:

    I had such a wonderful feeling last night, walking beneath the dark sky while cannon boomed on my right and guns on my left ... the feeling that I could change the world only by being there.
    Viorica Butnariu, Rumanian student at Bucharest University. letter, Dec. 23, 1989, to American friend. Observer (London, Dec. 31, 1989)

    Television is an excellent system when one has nothing to lose, as is the case with a nomadic and rootless country like the United States, but in Europe the affect of television is that of a bulldozer which reduces culture to the lowest possible denominator.
    Marc Fumaroli (b. 1932)

    We accept and welcome ... as conditions to which we must accommodate ourselves, great inequality of environment; the concentration of business, industrial and commercial, in the hands of a few; and the law of competition between these, as being not only beneficial, but essential for the future progress of the race.
    Andrew Carnegie (1835–1919)