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 suburban housewife—she was the dream image of the young American women and the envy, it was said, of women all over the world. The American housewife—freed by science and labor-saving appliances from the drudgery, the dangers of childbirth, and the illnesses of her grandmother ... had found true feminine fulfilment.”
—Betty Friedan (b. 1921)
“The woods were as fresh and full of vegetable life as a lichen in wet weather, and contained many interesting plants; but unless they are of white pine, they are treated with as little respect here as a mildew, and in the other case they are only the more quickly cut down.”
—Henry David Thoreau (1817–1862)
“The law of nature is alternation for evermore. Each electrical state superinduces the opposite. The soul environs itself with friends, that it may enter into a grander self-acquaintance or solitude; and it goes alone for a season, that it may exalt its conversation or society.”
—Ralph Waldo Emerson (1803–1882)