What is the definition of "acceptance" in contract law?

In contract law, "acceptance" specifically refers to the agreement of the offeree to the terms proposed in the offer by the offeror. This is a crucial step in forming a binding contract, as it indicates that the offeree is willing to be bound by the terms as presented, without any modifications. Acceptance must be clear, unequivocal, and communicated to the offeror to be effective.

This definition emphasizes the importance of mutual consent in contract formation. When the offeree accepts an offer, they are acknowledging that they fully understand and agree to the conditions laid out in that offer, which creates a legal obligation for both parties involved.

The other options do not align with the standard definition of acceptance. For instance, withdrawal from an offer made indicates a rejection of the offer rather than agreement. Negotiation of contract terms suggests ongoing discussions and potential changes, which means acceptance hasn't occurred yet. Lastly, while an agreement made after consideration is given involves important contract principles, it does not encapsulate the concept of acceptance itself as defined in contract law.