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Economics

The Mailbox Rule and Its Application to Contractual Acceptance Timing

Quick fact

The mailbox rule, established in 1818, makes acceptance effective upon dispatch, meaning a contract is formed the moment you drop your acceptance in the mail, even if the offeror never receives it.

Why this is interesting

Imagine you mail a letter accepting a job offer, but the employer retracts the offer before receiving your letter. Is the contract formed? Surprising as it may seem, the law says yes—thanks to the mailbox rule.