Acceptance

From ACT Wiki
Revision as of 13:45, 9 October 2015 by imported>Doug Williamson (Link with BA page.)
Jump to navigationJump to search

1.

A bill of exchange which has been 'accepted' by a high quality credit - usually a bank - effectively guaranteeing payment and thereby enhancing the credit quality of the bill.


2. Law.

One of the essential requirements for the formation of a contract under English law.

Another essential requirement being an offer.


See also