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:
“There is one expanding horror in American life. It is that our long odyssey toward liberty, democracy and freedom-for-all may be achieved in such a way that utopia remains forever closed, and we live in freedom and hell, debased of style, not individual from one another, void of courage, our fear rationalized away.”
—Norman Mailer (b. 1923)
““In my youth,” said his father, “I took to the law,
And argued each case with my wife;
And the muscular strength, which it gave to my jaw,
Has lasted the rest of my life.””
—Lewis Carroll [Charles Lutwidge Dodgson] (1832–1898)
“Trust me that as I ignore all law to help the slave, so will I ignore it all to protect an enslaved woman.”
—Susan B. Anthony (1820–1906)