When a buyer takes actual possession of goods offered for sale, this is known as what?

The term that describes when a buyer takes actual possession of goods offered for sale is acceptance. Acceptance occurs when the buyer signifies their agreement to the terms of a contract and takes possession of the goods, thus indicating their willingness to complete the transaction. This act of taking possession is crucial because it establishes the buyer's intent to accept the goods being offered.

In contrast, delivery refers to the act of transferring possession from the seller to the buyer but does not necessarily imply that the buyer accepts the goods if they do not take possession. An offer is the initial proposal made by the seller to sell goods under specific terms, but it does not involve the buyer's actions regarding possession. Consignment refers to a situation where goods are entrusted to another party to sell on behalf of the owner, which also does not directly relate to the buyer taking possession of the goods.