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:
“Were they to emigrate in a body to man the navies of the moon, almost every thing would stop here on earth except its revolution on its axis, and the orators in the American Congress.”
—Herman Melville (1819–1891)
“When you are invited by someone to a wedding banquet, do not sit down at the place of honor, in case someone more distinguished than you has been invited by your host...But when you are invited, go and sit down at the lowest place, so that when your host comes, he may say to you, Friend, move up higher’; then you will be honored in the presence of all who sit at the table with you.”
—Bible: New Testament, Luke 14:8,10.
“There are no fixtures in nature. The universe is fluid and volatile. Permanence is but a word of degrees. Our globe seen by God is a transparent law, not a mass of facts. The law dissolves the fact and holds it fluid.”
—Ralph Waldo Emerson (1803–1882)