Acceptance of goods
(gcide) | Acceptance \Ac*cept"ance\, n.
1. The act of accepting; a receiving what is offered, with
approbation, satisfaction, or acquiescence; esp.,
favorable reception; approval; as, the acceptance of a
gift, office, doctrine, etc.
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They shall come up with acceptance on mine altar.
--Isa. lx. 7.
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2. State of being accepted; acceptableness. "Makes it assured
of acceptance." --Shak.
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3. (Com.)
(a) An assent and engagement by the person on whom a bill
of exchange is drawn, to pay it when due according to
the terms of the acceptance.
(b) The bill itself when accepted.
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4. An agreeing to terms or proposals by which a bargain is
concluded and the parties are bound; the reception or
taking of a thing bought as that for which it was bought,
or as that agreed to be delivered, or the taking
possession as owner.
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5. (Law) An agreeing to the action of another, by some act
which binds the person in law.
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Note: What acts shall amount to such an acceptance is often a
question of great nicety and difficulty. --Mozley & W.
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Note: In modern law, proposal and acceptance are the
constituent elements into which all contracts are
resolved.
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acceptance of a bill of exchange, acceptance of a check,
acceptance of a draft, or acceptance of an order, is an
engagement to pay it according to the terms. This
engagement is usually made by writing the word "accepted"
across the face of the bill.
Acceptance of goods, under the statute of frauds, is an
intelligent acceptance by a party knowing the nature of
the transaction.
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6. Meaning; acceptation. [Obs.]
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Acceptance of persons, partiality, favoritism. See under
Accept.
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