Judicial Dictionary - Q
Judicial Dictionary
Legislative Dictionary
Qualified Acceptance
Category | Q |
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Title | Qualified Acceptance |
Details | An acceptance of an offer subject to a condition or conditions which must be met. Since new conditions are included, a qualified acceptance is a rejection of the original offer and thus a qualified acceptance is tantamount to a counteroffer. An acceptance is qualified— (a) where it is conditional, declaring the payment to be dependent on the happening of an event therein stated; (b) where it undertakes the payment of part only of the sum ordered to be paid; (c) where, no place of payment being specified on the order it undertakes the payment at a specified place, and not otherwise or elsewhere; or where, a place of payment being specified in the order, it undertakes the payment at some other place and not otherwise or elsewhere. [Section 86, explanation, Negotiable Instrument Act, 1881] |
Created On | May 2, 2011, 5:35 AM |
Hits | 605 |