Acceptance

(law) (a) An unconditional assent to an offer. (b) An assent to an offer conditioned on only minor changes that do not affect any material terms of the offer. See counteroffer; offer.
(shipping) Receipt by the consignee of a shipment thus terminating the common carrier liability.
(banking) A time draft (bill of exchange) on the face of which the drawee has written “accepted” over his signature. The date and place payable are also indicated. The person accepting the draft is known as the acceptor. Note: The drawee’s signature alone is a valid acceptance and is usually made across the left margin of the bill of exchange. See bank acceptance, bill of exchange.

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