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Financial Dictionary

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ACQUIESCENCE - The consent which is impliedly given by one or both parties, to a proposition, a clause, a condition, a judgment, or to any act whatever.

When a party is bound to elect between a paramount right and a testamentary disposition, his acquiescence in a state of things which indicates an election, when he was aware of his rights will be prima facie evidence of such election.

The acts of acquiescence which constitute an implied election, must be decided rather by the circumstances of each case than by any general principle.

Acquiescence in the acts of an agent, or one who has assumed that character, will, be equivalent to an express authority.

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