Acceleration

An estate Is said to be accelerated when it is reduced to possession by the extinguishment of the precedent estate sooner than it would have been in the due course of events. Thus a remainder is said to be "accelerated" when the first taker is incapable of taking or refuses to take. ACCEPTANCE (Lat. acdpere). Of Property. The receipt of a thing offered by another with an intention to retain it, indicated by some act sufficient for the purpose. 2 Pars. Cont. 221., Tile element of receipt must enter into every acceptance, though receipt does not necessarily mean, in this sense, actual manual taking. To this element there must be added an intention to retain. This retention may exist at the time of the receipt, or subsequently; it may be indicated by words, or acts, or any medium understood by the parties; and an acceptance of goods will be implied from mere detention, in many instances. An acceptance involves very generally the idea of a receipt in consequence of a previous undertaking, on the part of the person offering, to deliver such a thing as the party accepting is in some manner bound to receive. It is through this meaning that the term "acceptance," as used in reference to bills of exchange, has a relation to the more general use of the term; As distinguished from "assent," acceptance would denote receipt of something in compliance and satisfactory fulfillment of a contract to which assent has been previously given. See "Assent." Of Bills of Exchange. An engagement to pay the bill in money when due.

4 East, 72; 19 Law J. 297.

Acceptances of bills of exchange are: (1) Absolute, being a positive engagement to pay the bill according to its tenor. (2) Conditional, being an undertaking to pay the bill on a contingency. (3) Partial, being one varying from the tenor of the bill. (4) Qualified, being either conditional or partial. (5) Supra protest, being the acceptance of the bill after protest for nonacceptance by the drawee, for the honor of the drawer, or a particular indorser. They are also either: (6) Express, being an undertaking in direct and express terms to pay the bill. (7) Implied, being an undertaking to