ACCEPTANCE

The taking and receiving of anything in good part and as it were a tacit agreement to a preceding act which might have been defeated or avoided if such acceptance had not been made. Brooke, Abr. The acceptance of goods sold under a contract which would be void by the statute of frauds without delivery and acceptance involves something more than the act of the vendor in the delivery. It requires that the vendee should also act and that his act should be of such a nature as to indicate that he receives and accepts the goods delivered as his property. He must receive and retain the articles delivered, intending thereby to assume the title to them, to constitute the acceptance mentioned in the statute. Rodgers v. Phillips, 40 N. Y. 524. See, also, Snow v. Warner, 10 Mete. (Mass.) 132, 43 Am. Dec. 417. In marine insurance, the acceptance of an abandonment by the underwriter is his assent either express or to be implied from the surrounding circumstances, to the sufficiency and regularity of the abandonment Its effect is to perfect the insured’s right of action as for a total loss, if the cause of loss and circumstances have been truly disclosed. Rap. & Law. Acceptance of a bill of exchange. In mercantile law. The act by which the pergon on whom a bill of exchange is drawn (called the “drawee”) assents to the request of the drawer to pay it, or, in other words, engages, or makes himself liable, to pay it when due. 2 Bl Comm. 469; Cox v. National Bank, 100 U. S. 704, 25 L. Ed. 739. It may be by parol or in writing, and either general or special, absolute or conditional; and it may be impliedly, as well as expressly, given. 8 Kent, Comm. 83, 85; Story, Bills,