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Acceptance. A promise or act on the part of an offeree indicating a willingness to be bound by the terms and conditions contained in an offer. Also, the acknowledgment of the drawee that binds the drawee to the terms of a draft.
e. A banker's acceptance is a commitment by a bank to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ordinary time drafts in that ...
Minimum acceptable rate of return. In business and for engineering economics in both industrial engineering and civil engineering practice, the minimum acceptable rate of return, often abbreviated MARR, or hurdle rate is the minimum rate of return on a project a manager or company is willing to accept before starting a project, given its risk ...
The University of Oxford is a collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, [2] making it the oldest university in the English-speaking world and the world's second-oldest university in continuous operation. [2] [11] [12] It grew rapidly from 1167, when Henry II banned English students from ...
Early decision (ED) or early acceptance is a type of early admission used in college admissions in the United States for admitting freshmen to undergraduate programs.It is used to indicate to the university or college that the candidate considers that institution to be their top choice through a binding commitment to enroll (i.e., if offered admission under an ED program, and the financial aid ...
Agreement in English law. In English contract law, an agreement establishes the first stage in the existence of a contract. The three main elements of contractual formation are whether there is (1) offer and acceptance (agreement) (2) consideration (3) an intention to be legally bound . One of the most famous cases on forming a contract is ...
Contract law. In the law of contracts, the mirror image rule, also referred to as an unequivocal and absolute acceptance requirement, states that an offer must be accepted exactly with no modifications. [1] The offeror is the master of their own offer. An attempt to accept the offer on different terms instead creates a counter-offer, and this ...
NYU announced a record low acceptance rate of 8% for the Class of 2027. By comparison, NYU’s acceptance rate was 35% in 2014. More: The passion project advantage in college admissions ...