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2. Offer and acceptance - Wikipedia

   en.wikipedia.org/wiki/Offer_and_acceptance

   Prior to acceptance, an offer may be withdrawn. As acceptance must be communicated, the offeror cannot include an Acceptance by Silence clause. This was affirmed in Felthouse v Bindley, [36] here an uncle made an offer to buy his nephew's horse, saying that if he did not hear anything else he would "consider the horse mine". This did not stand ...

3. Posting rule - Wikipedia

   en.wikipedia.org/wiki/Posting_rule

   Day 2: A decides to revoke the offer and puts a letter in the mail to B revoking the offer. Day 3: B puts a letter accepting the offer in the mail. Day 4: B receives A's revocation letter. The letter of revocation can be effective only when received, that is Day 4. However, a contract was formed on Day 3 when the letter of acceptance was posted.

4. Contract - Wikipedia

   en.wikipedia.org/wiki/Contract

   As an offer states the offeror's willingness to be bound to the terms proposed therein, [27] a purported acceptance that varies the terms of an offer is not an acceptance but a counteroffer and hence a rejection of the original offer. The principle of offer and acceptance has been codified under the Indian Contract Act, 1872. [28]

5. Contractual term - Wikipedia

   en.wikipedia.org/wiki/Contractual_term

   The parties have completely agreed to the terms, but have made the execution of some terms in the contract conditional on the creation of a formal contract; or; It is merely an agreement to agree lacking the requisite intention to create legal relations, and the deal will only be binding unless and until the formalized contract has been drawn up.

6. Power of acceptance - Wikipedia

   en.wikipedia.org/wiki/Power_of_acceptance

   Generally speaking, a contract is created by an offer and the corresponding acceptance. [1] An offeree exercises the power of acceptance in order to trigger the offeror's obligation of performance with reference to the terms of the offer.

7. What is conditional approval in a mortgage application? - AOL

   www.aol.com/finance/conditional-approval...

   Conditional approval, on the other hand, comes in after initial approval — and in fact, after you’ve signed a contract to buy a home and formally applied for a mortgage. This stage involves a ...