Definition of "Acceptance"

Nancy Danyo Cuddihy real estate agent
Nancy Danyo Cuddihy, Real Estate Agent Premiere Realty Group LLC

Agreeing to an offer with the expectation of possessing it. Generally, a binding contract is effected when one party to a business arrangement accepts the offer of the other. Depending on the nature of the offer, an acceptance may be implied, partial, oral, or written.

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