Question

What is qualified acceptance? (Answer in one sentence)

Answer 1

Answer:

Qualified acceptance is a situation in which the acceptance of an offer from one party to another is subject to one or several conditions such as variation in the amount of money involved, the time taken for payment, mode of payment, place of payment etc.

Answer 2

Explanation:

Qualified acceptance is a form of acceptance where a situation requires acceptance. Qualified acceptance is a counteroffer of some kind. Qualified acceptance results in changes in the amount, mode or location of payment in a contract.

A qualified acceptance brings the ball back in the court of the initial offer, which either has to recognize the counter offer or react with their own counter offer.