Restatement Second of Contracts § 41
- An offeree's power of acceptance is terminated at the time specified in the offer, or, if no time is specified, at the end of a reasonable time.
- What is a reasonable time is a question of fact, depending on all the circumstances existing when the offer and attempted acceptance are made.
- Unless otherwise indicated by the language or the circumstances, and subject to the rule stated in [R2C § 49], an offer sent by mail is seasonably accepted if an acceptance is mailed at any time before midnight on the day on which the offer is received.
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