Final answer:
The statement is true as an acknowledgement of a condition in a contractual agreement must be completed within the specified time frame as outlined in the accepted offer.
Step-by-step explanation:
The statement is True. In the context of contractual agreements, an acknowledgement of conditions must be completed within the time frame specified in the offer that has been accepted. Failure to do so could result in the offer being voided or the contract being unenforceable.
During the process of contract formation, once an offer is presented and accepted, there are usually terms and conditions attached to the offer. There could be a specific condition that requires acknowledgement. This acknowledgement must happen before the expiry of the set time period for the condition to be satisfied; otherwise, the accepting party risks breaching the terms of the agreement.