Acceptance Under Contract Laws
The law of contract is a very important branch of Mercantile Law. It is that branch of law which determines the circumstances in which promises made by the parties to a contract shall be legally binding on them. Acceptance is signification of assent to the proposal. It takes two to make a bargain. So acceptance of the proposal is essential to the formation of an agreement. Without the acceptance of the proposal, no agreement can come into being.
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