A acceptance condition is a legal agreement between two parties that outlines the terms of a particular transaction. This can include things like the price, the quantity, the quality, the delivery date, and any other important details. Once both parties have signed the acceptance condition, they are legally bound to uphold their end of the agreement.
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Use our legal assistantThe acceptance condition in the offer document sent out as part of a takeover bid (drafted under the 12th edition of the Takeover Code) is an example of an acceptance condition.