ACCEPTANCE

The taking and receiv- ing of anything in good part, and as it were a tacit agreement to a preceding act, which might have been defeated or avoided if such acceptance had not been made. Brooke, Abr. The act of a person to whom a thing is of fered or tendered by another, whereby he re- ceives the thing with the intention of retain-person, ing it, such intention being evidenced by a sufficient act. The acceptance of goods sold under a con- tract which would be void by the statute of frauds without delivery and acceptance in- volves something more than the act of the vendor in the delivery. It requires that the vendee should also act, and that his act should be of such a nature as to indicate that he receives and accepts the goods deliv- ered as his property. He must receive and retain the articles delivered, intending there- by to assume the title to them, to constitute the acceptance mentioned in the statute. 40 N. Y. 524. See, also, 10 Metc. 132. In marine insurance, the acceptance of an abandonment by the underwriter is his assent, either express or to be implied from the surrounding circumstances, to the suffi- ciency and regularity of the abandonment. Its effect is to perfect the insured's right of action as for a total loss, if the cause of loss and circumstances have been truly disclosed. Rap. & Law. Acceptance of a bill of exchange. In mercantile law. The act by which the per- son on whom a bill of exchange is drawn (called the "drawee") assents to the request of the drawer to pay it, or, in other words, engages, or makes himself liable, to pay it when due. 4 East, 57, 72; 2 Bl. Comm. 469. It may be by parol or in writing, and either general or special, absolute or conditional; and it may be impliedly, as well as expressly, given. 3 Kent, Comm. 83, 85; Story, Bills, §§ 238, 251. But the usual and regular mode of acceptance is by the drawee's writing across the face of the bill the word "accept- ance," and subscribing his name; after which he is termed the acceptor. Id. § 243. Supra protest. An acceptance by a third after protest of the bill for non-ac- ceptance by the drawee, to save the honor of the drawer or some particular indorser.

drawer. The acceptance of the check, like its certification, in order to be binding on the bank, must be in writing and signed by it. 162 Ky. 551, 172 S. W. 955. Of Bills of Exchange. An engage- ment to pay the bill in money when due. 4 East 72; 19 Law Jour. 297; Byles, Bills 288. Acceptances are said to be of the follow- ing kinds: Absolute, which is a positive engagement to pay the bill according to its tenor. Conditional, which is an undertaking to pay the bill on a contingency. The holder is not bound to receive such an accept- ance, but if he does receive it, must observe its terms; 4 M. & S. 466; 2 Wash. C. C. 485; Dan. Neg. Inst. 411. For some examples of what do and what do not constitute conditional acceptances, see 6 C. & P. 218; 8 C. B. 841; 15 Miss. 245,; 7 Me. 126; 10 Ala. N. s. 533; 1 Strob. 271; 4 W. & S. 846; 105 Mass. 401; 10 С. В. н. в. 214; 44 Ga. 518; 78 111. 400; 62 Me. 498; 14 Cal. 407; 36 Nob. 844; 65 Hun 096; 87 Minn. 191 20 W. Va. 463. Express or absolute, which is an under- taking in direct and express terms to pay the bill. Implied, which is an undertaking to pay the bill inferred from acts of a character which fairly warrant such an inference. Where one receives certain goods and sells them, knowing that a draft has been drawn on him for. their price, the retaining of the proceeds is equiva lent to an acceptance of the draft; 183 III. 234. If the payee writes upon a bill of ex- change drawn upon him the words "pay- able the 15th day of May, 1883," and signs it, it constitutes a qualified acceptance; 87 Minn. 191. Partial, which is one varying from the tenor of the bill. An acceptance to pay part of the amount for which the bill is drawn, 1 Strange 214; 2 Wash. C. C. 485; or to pay at a different time, 14 Jur. 806; 25 Miss. 876; Molloy, b. 2, c. 10, § 20; or at a different place, 4 M. & S. 462, would be partial. Qualified, which are either conditional or partial, and introduce a variation in the sum, time, mode, or place of payment; 1 Dan. Neg. Inst. 414. Supra protest, which is the acceptance of the bill after protest for non-acceptance by the drawee, for the honor of the drawer or a particular indorser. When a bill has been accepted supra protest for the honor of one party to the bill, it may be accepted supra protest by another individual for the honor of another; Beawes, Lex Merc. Bills of Exchange, pl. 52; 5 Camp. 447. The acceptance must be made by the drawee or some one authorized to act for him. The drawee must have capacity to act and bind himself for the payment of the bill, or it may be treated as dishonored. See ACCEPTOR SUPRA PROTEST; 2 Q. B. 16. As to when an acceptance by an agent, an officer of a corporation, etc., on behalf of the company, will bind the agent or officer personally, see 6 C. B. 766; 9 Exch. 154; 4 N. Y. 208; 8 Pick. 56; 3; 11 Me. 267; 2 South. 828; see also 17 Wend. 40; 5 B. Monr. 51; 2 Conn. 660; 19 Me. 352; 16 Vt. 220; 7 Miss. 371. The acceptance and delivery of negotia- ble paper on Sunday is void between the parties, but if dated falsely as of another day, it is good in the hands of an innocent holder; 76 Ga. 218. It may be made before the bill is drawn, in which case it must be in writing; 3 Mass. 1; 15 Johns. 6; 2 Wend. 545; 1 Bail. 522; 2 Green 239; 2 Dana 95; 5 B. Monr. 8; 15 Pa. 453; 2 Ind. 488; 3 Md. 265; 1 Pet. 264; 2 Wheat. 66; 2 McLean 462; 2 Blatchf. 335. See 1 Story 22; 43 Minn. 260. It may be made after it is drawn and before it comes due, which is the usual course, or after it becomes due; 1 H. Bla. 313:2 Green 339; or even after a previous refusal to accept; 5 East 514; 1 Mas. 176. It must be made within twenty-four hours after presentment, or the holder may treat the bill as dishonored; Chit. Bills, 212, 217. And upon refusal to accept, the bill is at once dishonored, and should be protested; Chit. Bills, 217. It may be in writing on the bill itself or on another paper; 4 East 91; 97 N. C. 1; and it seems that the holder may insist on

An acceptance is general when it imports an absolute acceptance, precisely in conformity to the tenor of the bill itself. It is "condi- tional" or qualified, when it contains any qualification, limitation or condition, differ- ent from what is expressed on the face of the bill, or from what the law implies, upon a general "acceptance." It is qualified when the drawee absolutely accepts the bill, but makes it payable at a different time or place, or for a different firm, or in a different mode from that which is the tenor of the bill. 3 Bush (Ky.) 628.

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. They shall come up with acceptance on mine altar. Isa. lx. 7. State of being accepted; acceptableness. "Makes it assured of acceptance." Shak. 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. The bill itself when accepted. 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. An agreeing to the action of another, by some act which binds the person in law. Meaning; acceptation. [Obs.] Acceptance of persons, partiality, favoritism. See under Accept.

The act of accepting; the receiving of something offered, with acquiescence, approbation, or satisfaction; especially, favourable reception; approval. | An instance of that act. | Belief in something; agreement, assent. | The state of being accepted. | The usual or accepted meaning of a word or expression. | 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; the bill of exchange itself when accepted. | An agreeing to the action, proposals, or terms of another by some act which results in the conclusion of a legally binding contract; 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 of possession of a thing as owner. | The act of an authorized representative of the government by which the government assents to ownership of existing and identified supplies, or approves specific services rendered, as partial or complete performance of a contract. | A list of horses accepted as starters in a race. | Synonym of etendue.