power of acceptance

power of acceptance

n. the ability to accept an offer and thus create a binding contract. In real estate an acceptance can only be made for a period specified in the offer, and the power is terminated permanently by the making of a counter-offer. Thus, one cannot make a counter-offer and then decide to accept the original offer.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
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Power is still in the hands of men: the power of acceptance, publishing, praise, advertising.
Kirsikankukkia
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