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:
“One must always be aware, to notice—even though the cost of noticing is to become responsible.”
—Thylias Moss, African American poet. As quoted in the Wall Street Journal (May 12, 1994)
“In the case of news, we should always wait for the sacrament of confirmation.”
—Voltaire [François Marie Arouet] (1694–1778)
“I sat on cushioned otter-skin:
My word was law from Ith to Emain,
And shook at Invar Amargin
The hearts of the world-troubling seamen,
And drove tumult and war away....”
—William Butler Yeats (1865–1939)