Acceptance of Performance

Acceptance of Performance refers to the acknowledgment that a party has fulfilled their responsibilities in a contract or agreement. When one party completes their obligations, the other must confirm this completion for the performance to be considered accepted. This can involve a simple verbal agreement, signing a document, or taking an action that indicates satisfaction. Acceptance is important because it can impact the parties' rights and obligations, determining whether payments are due or if disputes may arise regarding the quality or completion of the work done.