What is ACCEPTANCE?

1. Agreements: Two parties agree to the terms of a contract. If it is denied a counter off is made until the agreement is reached. Upon agreement the contract is legally binding when it is signed. 2. Commerce: When a buyer accepts goods delivered. 3. Documentary credit: Agreeing to pay a bill by signing under the word accepted. 4. Legal: When an agent officially authorized acts on an agreement. 5. Shipping: The act of sending a good to a recipient.

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