Conditional Acceptance For Value
Description
How to fill out Standard Conditions Of Acceptance Of Escrow?
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FAQ
Some specific information a conditional acceptance letter may contain includes: Your acceptance status. Why your acceptance is conditional. How you can become accepted fully. Deadlines for paperwork and documents. Contact details for admissions.
A conditional acceptance is often referred to as a qualified acceptance. This happens when a person who has given an offer tells the person who made the offer that he or she will agree to the offer if there are some changes made to the terms and conditions, or in the event of something happening.
(i) In Union of India v. Bhim Sen Walaiti Ram[3], a three-Judge bench of the Supreme Court had held that acceptance of an offer may be either absolute or conditional. If the acceptance is conditional, offer can be withdrawn at any moment until absolute acceptance has taken place.
Conditional Acceptance is a very known form in the contracts and law also allows people to make conditions if the offeree is not sure about the offer made by offeror. Conditional acceptance is a sort of a counter offer made to the proposal of original offeror.
Conditional acceptance means that there are still terms that need to be met before your acceptance can be finalized. For example, maybe you're a high school or college student and you've applied and submitted your official transcript for your midterm grades.