Acceptance

In one sentence

Agreeing to the exact terms of an offer, creating a binding contract.

Plain English

Acceptance happens when the person who receives an offer agrees to all of its terms without changing anything. The acceptance must match the offer exactly—if you change even one term, you've made a counteroffer instead, and the original offer is no longer on the table. Acceptance can be communicated in writing, by spoken words, or sometimes even through actions. Once acceptance occurs, a contract exists and both parties are legally bound.

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Example

A store advertises a laptop for $799. When you say "I'll buy it at that price," you are accepting the store's offer. At that moment, a contract forms and the store must sell you the laptop at the advertised price.

Used in a sentence

“The landlord's acceptance of the tenant's lease application came in writing the next day.”

Related terms

Offer

A proposal to enter into a binding agreement on specific terms.

Consideration

Something of value exchanged by each party to make a contract binding.

Offeree

The person who receives an offer and has the power to accept or reject it.

Offeror

The person who makes an offer to enter into a contract.

Unilateral Contract

A contract where only one party makes a binding promise in exchange for the other's performance.

Performance

The act of doing what a contract requires, such as delivering goods or paying money.

Mutual Assent

Both parties agree to the same contract terms at the same time.

Meeting of the Minds

Both parties share the same understanding of a contract's essential terms.

This page is a plain-English reference and is not legal advice. Laws vary by jurisdiction and change over time. For specific situations consult a licensed attorney.