GLOSSARY

Acceptance of Goods

The process of receiving a consignment from a consignor, usually against the issue of a receipt. As from this moment the carrier bears responsibility for the consignment.

What is Acceptance of Goods?

Acceptance of goods occurs when the buyer:

1. After a reasonable opportunity to inspect the goods signifies to the seller that the goods are conforming or that he will take or retain them in spite of their non-conformity; or

2. Fails to make an effective rejection (subsection A of section 47-2602), but such acceptance does not occur until the buyer has had a reasonable opportunity to inspect them; or

3. Does any act inconsistent with the seller's ownership; but if such act is wrongful as against the seller it is an acceptance only if ratified by him.

Learn More

Related Articles:

Related Terms: