Acceptance

• Parties who can accept a contract:
  • Person to whom the offer is made
    • That person must be aware of the offer when she accepts
  • Agent of the party
• Mirror Image Rule: Offer and acceptance must match.
• Offer must be accepted within a reasonable amount of time from the time the offer is made
  • Ex. Months or years after the offer is made is too long.

Communication of Acceptance

• Expressed
  • Person to whom the offer is made agrees verbally or in writing that she accepts the offer.
• Implied
  • Ex. Lana offers to buy Elizabeth’s pig for $80. Elizabeth’s giving the pig to Lana after the offer is an implied acceptance of Lana’s offer of $80.
• Mailbox Rule: When accepting a contract by mail, the contract is formed the moment the promisee puts the acceptance in the mail.
  • A revocation of acceptance is effective when it is received.
  • If both a rejection and an acceptance is sent, Mailbox rule does not apply here.
    • The rule is that whichever, the rejection or the acceptance, arrives in the mail first will be effective.