Acceptance is often a more clear oral or written statement made. In this case Baldrick has made his statement on the loan he needs. He has presented his case and his presentation has been met with acceptance by his father Bill. So Bill has essentially agreed to enter into an agreement with Baldrick to loan him the money for his establishment. More than a reasonable acceptance has been given to the offer of Baldrick. There has been established no positive obligation to reject. The communication of father to son has been such that the offer is accepted.
The agreement which being oral has to be at least uncertain for it to be rejected. Here it can be seen that there is no vagueness in the agreement. Both have agreed upon the amount of money they would transact. It is not a mere agreement to agree. It is not an illusory or an incomplete contract.
An incomplete contract could be on where the price is not agreed upon. An incomplete or an uncertain part of a contract might not be negotiable. These could be uncertain elements that might have to be avoided. Two parties might not agree upon the price at the time of initial negotiations and this could be a cause for contract rejection. However there is no such case here. It has been clearly stated as to what the loan amount would be and the rates also. In this context Baldrick can argue that the agreement was quite valid.
Baldrick in this case is seen to have acted on the acceptance of his father Bill. Assuming he has the loan, Baldrick has gone ahead and has signed a lease. Now if he were to apply for a loan in a bank at the commercial rate it could be a setback in his plans. He might face some monetary loss or other forms of losses. These are damages that Baldrick would be able to claim from Bill citing his breach of contract.