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 should think the American admiration of five-minute tourists has done more to kill the sacredness of old European beauty and aspiration than multitudes of bombs would have done.”
—D.H. (David Herbert)
“If you think dope is for kicks and for thrills, youre out of your mind. There are more kicks to be had in a good case of paralytic polio or by living in an iron lung. If you think you need stuff to play music or sing, youre crazy. It can fix you so you cant play nothing or sing nothing.”
—Billie Holiday (19151959)
“There is all the difference in the world between the criminals avoiding the public eye and the civil disobedients taking the law into his own hands in open defiance. This distinction between an open violation of the law, performed in public, and a clandestine one is so glaringly obvious that it can be neglected only by prejudice or ill will.”
—Hannah Arendt (19061975)