The act of agreeing to take or receive
something that is offered.
As a rule, the act of acceptance must be
communicated back to the person who made the
offer before the agreement/contract is
complete. Provincial and State jurisdictions
encourage the use of a standard
agreement/contract for the sale of real
estate and specific requirements must be
followed to ensure the written acceptance of
both buyer and seller. The
agreement/contract is signed by both buyer
and seller, sealed, dated in the presence of
a witness(es), and both parties must
acknowledge receipt of the accepted
agreement/contract. Exact procedures
regarding acceptance, distribution of
copies, and acknowledgement of receipt will
vary by province or state.
Generally, acceptance must be:
Unconditional, that is, all the
terms of the contract must be accepted
without alteration;
Communicated to the party who made
the offer or that party’s agent;
Made in the manner required by the
offer; and
Made within the time required by the
offer, or within a reasonable time if no
time is stated.
Acceptance must be unconditional by the
other party without any change with respect
to the terms of the offer. Should any change
be made, then acceptance has not occurred,
but rather a counter offer is made and the
original offeror may accept or refuse.
Acceptance, after communication of that
acceptance, cannot be revoked.
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