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 work harder than ever, and I cannot see the advantages in cooperative living.”
—Lydia Arnold, U.S. commune supervisor (of the North American Phalanx, Red Bank, New Jersey, 1843- 1855)
“Pardon me, you are not engaged to any one. When you do become engaged to some one, I, or your father, should his health permit him, will inform you of the fact. An engagement should come on a young girl as a surprise, pleasant or unpleasant, as the case may be. It is hardly a matter that she could be allowed to arrange for herself.”
—Oscar Wilde (18541900)
“I consider, then, the power to annul a law of the United States, assumed by one state, incompatible with the existence of the Union, contradicted expressly by the letter of the Constitution, unauthorized by its spirit, inconsistent with every principle on which it was founded, and destructive of the great object for which it was formed.”
—Andrew Jackson (17671845)