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The posting rule (or mailbox rule in the United States, also known as the " postal rule " or " deposited acceptance rule ") is an exception to the general rule of contract law in common law countries that acceptance of an offer takes place when communicated. Under the posting rule, that acceptance takes effect when a letter is posted (that is, dropped in a post box or handed to a postal worker ...
An inter vivos gift is an ordinary gift of personal property from one living person to another. [1] It can be a gift of a present or future interest in a property. The three elements of an inter vivos gift are donative intent, delivery, and acceptance. [1] The rules governing these elements were historically rigid but in recent years courts have become more lenient in their application by ...
Offer and acceptance are generally recognized as essential requirements for the formation of a contract (together with other requirements such as consideration and legal capacity ). Analysis of their operation is a traditional approach in contract law. This classical approach to contract formation has been modified by developments in the law of estoppel, misleading conduct, misrepresentation ...
Operational acceptance testing (OAT) is used to conduct operational readiness (pre-release) of a product, service or system as part of a quality management system. OAT is a common type of non-functional software testing, used mainly in software development and software maintenance projects. This type of testing focuses on the operational ...
Service on a defendant who resides in a country outside the jurisdiction of a court must comply with special procedures prescribed under the Hague Service Convention if the recipient's country is a signatory. Service on defendants in many South American countries and some other countries is effected through the letter rogatory process. Where a defendant's whereabouts are unknown, a court may ...
In business and project management, a responsibility assignment matrix [1] ( RAM ), also known as RACI matrix [2] ( / ˈreɪsi /) or linear responsibility chart [3] ( LRC ), is a model that describes the participation by various roles in completing tasks or deliverables [4] for a project or business process. RACI is an acronym derived from the four key responsibilities most typically used ...
A proof of delivery ( POD) is a document that substantiates that a carrier has satisfied its terms of a contract of carriage for cargo by confirmation of the recipient or consignee. [1] When the sender sends multiple documents through the mail, there is a possibility of some not reaching the intended recipient. Generally, post offices provide an additional service of guaranteed delivery, known ...
A banker's acceptance is a commitment by a bank to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ordinary time drafts in that ownership is transferable prior to maturity, allowing ...