What is acceptance and what is it for?

Sometimes all the ways and ruts of financial activity are difficult to understand and analyze. There are new terms, new rules and conditions. A vivid example of this is an acceptance that absorbs several meanings at once. Today we will try to completely indicate its significance and direction. So what is an acceptance?

Definitions

There are 3 definitions that most clearly and fully express the meaning of the word:

• This consent of the person to conduct a transaction addressed to him through an offer. A distinctive feature of the acceptance is that the consent is unconditional, that is, the participant fully and completely accepts all the conditions for conducting the operation.
• This is the form by which securities are settled (for example, checks and bills). This can include banking services for individuals.
• The consent of the authorized person to pay the payment demand, thus making settlements for the delivery of the products by the supplier under the contract.
• Bank acceptance is a bill issued by a bank. Its distinctive feature is the low risk of non-payment.

Stage of the contract

What is an acceptance? It is one of several stages of the transaction. Here begins a kind of branching into two systems, which treat the process in different ways. In Italy, Germany and France, the contract is concluded when the offeror receives an acceptance. The second system is somewhat different. In England, Japan and the US, the agreement enters into force at the time of sending a positive response to the post of the offeror. This system is figuratively called the "mailbox system". Even if the acceptance came to the post office with a certain delay, and it was sent at the appointed time, the contract will still be concluded. In this system, such a response is not considered to be overdue, hence, there are no problems in approving the transaction. But there are times when the offer itself reaches the acceptor with a delay. In this case, the respondent should immediately notify the sender about this, which, in turn, will send a notice about the correct and timely dispatch of the acceptance. Quite fair terms of the transaction. What is acceptance and what are its features based on Russian legislation? Its main properties are completeness and unconditional. When the answer to an offer comes in such a way that the acceptor agrees to conclude a transaction with several other conditions, then the contract is immediately considered invalid and a new one is drawn up.

Forms of acceptance

There are several forms with which you can respond to an offer:

• Written answer. Its transmission is possible by fax, telegraph and other improvised means.
• Public offer. A vivid example of this is the display of products on the counters and shop windows. Acceptance in this case is the purchase of goods by the consumer.
• Commitment of actions specified in the contract at the appointed time. Such processes are called "conclusive".
• Silence, which when reaching a threshold of more than 10 days is considered a positive response to the offer. As a rule, this form of acceptance is most often used in property processes.

Today we understand what acceptance is, and also studied its main directions and the conditions under which it is valid.