Mailbox Rule for Contracts

The video tutorial explains the essential elements of a contract, focusing on the offer and acceptance. It introduces the mailbox rule, which determines when acceptance is effective, especially when the offer does not specify terms of acceptance. The rule states that acceptance is effective once it is placed in the mailbox. This becomes crucial when multiple offers are made, as the first acceptance sent by mail is binding, even if another acceptance is received first.

Explain the significance of specifying a manner of acceptance in a contract offer.

What happens if an offer is silent on the terms of acceptance?

What is the mailbox rule in the context of contract acceptance?

Describe a scenario where multiple individuals are offered a contract and how acceptance works in that situation.

Why does the person making the offer not have the authority to accept another person's acceptance?