Power of Acceptance

Public Record

The ability to accept an offer and thus create a binding contract. in real estate an acceptance can only be made for a period specified in the offer, and the power is terminated permanently by the making of a counter-offer. thus, one cannot make a counter-offer and then decide to accept the original offer.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.