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acceptance definition
1) receiving something from another with the intent to keep it, and showing that
this was based on a previous agreement. 2) agreeing verbally or in writing to the
terms of a contract, which is one of the requirements to show there was a contract
(an offer and an acceptance of that offer). A written offer can be accepted only
in writing. 3) receiving goods with the intention of paying for them if a sale has
been agreed to. 4) agreement to pay a bill of exchange, which can be an "absolute
acceptance" (to pay as the bill is written) or "conditional acceptance" (to pay
only when some condition actually occurs such as the shipment or delivery of certain
goods). "Acceptance" is most often used in the factual determination of whether
a contract was entered into.
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