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:
“We talked about and that has always been a puzzle to me
why American men think that success is everything
when they know that eighty percent of them are not
going to succeed more than to just keep going and why
if they are not why do they not keep on being
interested in the things that interested them when
they were college men and why American men different
from English men do not get more interesting as they
get older.”
—Gertrude Stein (18741946)
“True and false are attributes of speech not of things. And where speech is not, there is neither truth nor falsehood. Error there may be, as when we expect that which shall not be; or suspect what has not been: but in neither case can a man be charged with untruth.”
—Thomas Hobbes (15881679)
“There is ... but one response possible from us: Force, Force to the uttermost, Force without stint or limit, the righteous and triumphant Force which shall make Right the law of the world and cast every selfish dominion down in the dust.”
—Woodrow Wilson (18561924)