Deposited acceptance rule is also known as the mailbox rule

That's correct! The "deposited acceptance rule" is also commonly referred to as the "mailbox rule". This rule is a fundamental principle in contract law, particularly in the context of mail contracts.

The deposited acceptance rule states that an acceptance of an offer is effective when it is deposited in the mail, even if the offeree (the person accepting the offer) does not receive the acceptance until later. In other words, as soon as the acceptance is placed in the mail, it is considered to have been received by the offeror (the person making the offer).

This rule is often referred to as the "mailbox rule" because it is based on the idea that once an acceptance is deposited in the mail, it is as good as received by the offeror, just like a letter in a mailbox. This rule helps to avoid disputes over whether an acceptance was actually received, and it provides a clear and certain way to determine when a contract is formed.

For example, imagine that you send a letter to a friend accepting an invitation to a party, and you deposit the letter in the mail. According to the deposited acceptance rule, your friend is considered to have received your acceptance as soon as the letter is deposited in the mail, even if they don't actually receive it until a few days later.