Final answer:
The post-box rule states that when acceptance is mailed, it is effective when and where it is received.
Step-by-step explanation:
The correct option with respect to the post-box rule is E) When acceptance is mailed, it is effective when and where it is received.
The post-box rule is a common law principle that states that when acceptance is mailed, it is effective when and where it is received. In other words, once a letter of acceptance is placed in the mailbox and properly addressed, it is considered accepted at that moment, regardless of when the other party receives it.
This principle is applicable to contracts and legal agreements made through traditional mail or postal service. It does not apply to other forms of communication such as emails, faxes, or telegrams.