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In contract law, an acceptance is an agreement,
express or implied, to the terms of an offer that has been extended,
such that a binding contract is formed upon the acceptance. A
conditional acceptance, or an acceptance that contains a proposed
modification in the offer, is considered under the law to be a
counteroffer. The counteroffer then creates what is called a power of
acceptance in the original offeror, who may then make an acceptance and
bind the parties.
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