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

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

    In either case, your status will be confirmed by a letter or statement indicating you have been conditionally approved. Common causes of conditional approval You could receive a conditional ...

  3. Power of acceptance - Wikipedia

    en.wikipedia.org/wiki/Power_of_acceptance

    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. Disputes may arise as to whether the power of acceptance is valid at the time the acceptance is made, therefore challenging the very existence of the contract. [2]

  4. Right of first refusal - Wikipedia

    en.wikipedia.org/wiki/Right_of_first_refusal

    Offer and acceptance terms: specific deadlines, procedures, and forms may be required. For example, Abe must give Carl a "notice of sale." Carl has 30 days to accept or reject, with failure to respond counting as rejection. Carl must then close the transaction within that time, or that counts as a failed attempt to exercise.

  5. Posting rule - Wikipedia

    en.wikipedia.org/wiki/Posting_rule

    An interesting implication of the operation of the posting rule is that an acceptance is complete once the letter of acceptance is posted; it makes no difference whether the offeror actually receives the letter. This was demonstrated in Byrne v Van Tienhoven (1880) 5 CPD 344. If a letter of acceptance were to be lost, acceptance has still taken ...

  6. This company issued 'final notice' letters to American ... - AOL

    www.aol.com/finance/company-issued-final-notice...

    The letters sought to create a false sense of urgency, with phrases like 'final notice,' and 'immediate response requested.'" These types of phrases could cause any consumer to stop in their tracks.

  7. Letter of intent - Wikipedia

    en.wikipedia.org/wiki/Letter_of_intent

    A letter of intent (LOI or LoI, or Letter of Intent) is a document outlining the understanding between two or more parties which they intend to formalize in a legally binding agreement. The concept is similar to a heads of agreement , term sheet or memorandum of understanding .

  8. Third-party beneficiary - Wikipedia

    en.wikipedia.org/wiki/Third-party_beneficiary

    C immediately acquires a conditional right, from which A is able to release B until the moment of acceptance, when the right of A to release B is extinguished. [2] In either case, a third-party contract differs from agency in that the promisee acts in his own name and for himself, whereas an agent or representative does not.

  9. Heads of terms - Wikipedia

    en.wikipedia.org/wiki/Heads_of_terms

    A set of heads of agreement, heads of terms, or letter of intent is a non-binding document outlining the main issues relevant to a tentative sale, partnership, or other agreement. [ 1 ] A heads of agreement document will only be enforceable when it is adopted into a parent contract and is subsequently agreed upon, unless otherwise stated.