Ac*cept"ance (?), n. 1.
The act of accepting; a receiving what is offered, with approbation,
satisfaction, or acquiescence; esp., favorable reception; approval; as, the
acceptance of a gift, office, doctrine, etc.
They shall come up with acceptance on mine altar.
Isa. lx. 7.
2. State of being accepted; acceptableness.
"Makes it assured of acceptance." Shak.
3. (Com.) (a) An assent and
engagement by the person on whom a bill of exchange is drawn, to pay it
when due according to the terms of the acceptance.
(b) The bill itself when accepted.
4. An agreeing to terms or proposals by which a
bargain is concluded and the parties are bound; the reception or taking of
a thing bought as that for which it was bought, or as that agreed to be
delivered, or the taking possession as owner.
5. (Law) An agreeing to the action of
another, by some act which binds the person in law.
☞ What acts shall amount to such an acceptance is often a
question of great nicety and difficulty. Mozley & W.
☞ In modern law, proposal and acceptance are the
constituent elements into which all contracts are resolved.
Acceptance of a bill of exchange,
check, draft, or
order, is an engagement to pay it according to the
terms. This engagement is usually made by writing the word "accepted"
across the face of the bill. Acceptance of goods,
under the statute of frauds, is an intelligent acceptance by a party
knowing the nature of the transaction.
6. Meaning; acceptation. [Obs.]
Acceptance of persons, partiality, favoritism. See