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:
“Lincoln becomes the American solar myth, the chief butt of American credulity and sentimentality.”
—H.L. (Henry Lewis)
“Oh, that I knew where I might find him, that I might come even to his dwelling! I would lay my case before him, and fill my mouth with arguments. I would learn what he would answer me, and understand what he would say to me. Would he contend with me in the greatness of his power? No; but he would give heed to me. There an upright person could reason with him, and I should be acquitted forever by my judge.”
—Bible: Hebrew, Job 23:3-7.
Job, of God.
“According to the law of nature it is only fair that no one should become richer through damages and injuries suffered by another.”
—Marcus Tullius Cicero (106–43 B.C.)