What are the two main categorizations of contracts based on acceptance methods?

The two main categorizations of contracts based on acceptance methods are classified into instantaneous and non-instantaneous. An instantaneous contract is formed when the parties involved reach an agreement at the same time—this can happen, for example, in face-to-face conversations or digital communications where both parties respond immediately.

On the other hand, a non-instantaneous contract involves an acceptance that does not happen immediately; this could occur in situations where one party sends an offer, and the other party takes time to respond, such as in mail or over email—where the communication isn't instant. This distinction is crucial as it affects when and how the contract is considered binding and enforceable.

The other options focus on different aspects of contracts. Written and verbal are types of agreements based on formality rather than on how acceptance occurs. Formal and informal refer to the legal standing and structure of a contract, rather than the timing and method of acceptance. Instantaneous and delayed is somewhat similar but does not accurately encompass the broader concept of acceptance timing like instantaneous and non-instantaneous does.