acceptance: Meaning and Definition of

ac•cept•ance

1. the act of taking or receiving something offered.
2. favorable reception; approval; favor.
3. the act of assenting or believing: acceptance of a theory.
4. the fact or state of being accepted or acceptable.
5. acceptation (def. 1).
1. an engagement to pay an order, draft, or bill of exchange when it becomes due, as by the person on whom it is drawn.
2. an order, draft, etc., that a person or bank has accepted as calling for payment and has thus promised to pay.