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 establishment of democracy on the American continent was scarcely as radical a break with the past as was the necessity, which Americans faced, of broadening this concept to include black men.”
—James Baldwin (1924–1987)
“When a thing is said to be not worth refuting you may be sure that either it is flagrantly stupid—in which case all comment is superfluous—or it is something formidable, the very crux of the problem.”
—Miguel de Unamuno (1864–1936)
“In a democracy—even if it is a so-called democracy like our white-élitist one—the greatest veneration one can show the rule of law is to keep a watch on it, and to reserve the right to judge unjust laws and the subversion of the function of the law by the power of the state. That vigilance is the most important proof of respect for the law.”
—Nadine Gordimer (b. 1923)