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CHAPTER 3: ACCEPTANCE - Coggle Diagram
CHAPTER 3: ACCEPTANCE
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Revocation of acceptance
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An acceptance may be revoked at any time before the acceptance letter reaches the offeror but not afterwards.
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Meaning
Exercise by the offeree indicating his assent to the transaction in response to the
offer. Section 2(b) Contract Act 1950
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Communication by post
Where it is agreed that the parties will use the post as a means of communication, the postal rule will apply. The postal rule states that where a letter is properly addressed and stamped, the acceptance takes place when the letter is placed in the post box. Section 4 (2) CA.