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:
“The American people have done much for the locomotive, and the locomotive has done much for them.”
—James A. Garfield (18311881)
“There are a great many of these accusers, and they have been accusing me now for a great many years, and what is more, they approached you at the most impressionable age, when some of you were children or adolescents; and literally won their case by default, because there was no one to defend me.”
—Socrates (469399 B.C.)
“I sat on cushioned otter-skin:
My word was law from Ith to Emain,
And shook at Invar Amargin
The hearts of the world-troubling seamen,
And drove tumult and war away....”
—William Butler Yeats (18651939)