QUALIFIED ACCEPTANCE
\kwˈɒlɪfˌa͡ɪd ɐksˈɛptəns], \kwˈɒlɪfˌaɪd ɐksˈɛptəns], \k_w_ˈɒ_l_ɪ_f_ˌaɪ_d ɐ_k_s_ˈɛ_p_t_ə_n_s]\
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1. Different to a general acceptance. The details of a bill of exchange is altered and can be treated as a non-acceptance of the terms of the bill. 2. If an acceptance is offered and the original party wants it changed in order to grant acceptance they will need to put forward a counter offer to the other party. It will go back and forth until an agreement is reached.
By Henry Campbell Black
