The assent to an offer that occurs when the party to whom an offer has been made either agrees to the proposal or does what has been proposed is known as?

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Study for the Chartered Property Casualty Underwriter 530 Exam with flashcards and multiple choice questions. Each question has hints and explanations to enhance your understanding and prepare you thoroughly.

Multiple Choice

The assent to an offer that occurs when the party to whom an offer has been made either agrees to the proposal or does what has been proposed is known as?

Acceptance is the moment of assent to an offer. It occurs when the offeree agrees to the proposed terms or completes the action the offer asks for. If the offer invites a promise, acceptance is a promise to perform; if it invites performance, acceptance occurs by actually performing. That fits the phrasing of agreeing or doing what was proposed. Forbearance, restitution, and a counteroffer describe different concepts and do not capture this idea of assent through agreement or performance.

The assent to an offer that occurs when the party to whom an offer has been made either agrees to the proposal or does what has been proposed is known as?

Study for the Chartered Property Casualty Underwriter 530 Exam with flashcards and multiple choice questions. Each question has hints and explanations to enhance your understanding and prepare you thoroughly.

The assent to an offer that occurs when the party to whom an offer has been made either agrees to the proposal or does what has been proposed is known as?

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