A reply to an offer that materially alters the terms of the offer Example: a seller who accepts a buyer's offer on condition that the goods will be made of a different material has made a counteroffer
A new offer made in response to an offer received from an offeror A counteroffer has the effect of rejecting the original offer, which cannot thereafter be accepted unless revived by the offeror's repeating it
when the seller or buyer responds to a bid If you decide to offer $100,00 for home listed $150,000, the seller might counter your offer and propose that you purchase the homer for $140,000 That new proposal, and any subsequent offer, is called a counteroffer
When a buyer makes an offer, the seller may respond with a counter offer that changes some of the terms In turn, the buyer can respond with another counter offer, etc
(legal term) A new offer made as a reply to an offer received, having the effect of canceling the original offer, which cannot be accepted thereafter unless revived by the Offeror's submitting it again
An answer to an offer If a prospective Purchaser presents an offer to purchase a property to the owner of the property, that owner may accept the offer as it stands, reject it outright or respond with a "counteroffer" which changes certain terms of the original offer Making a counteroffer, at law, entails rejection of the original offer The Purchaser may then counteroffer back, making changes to the owner's counteroffer Sometimes, the process of counteroffering is referred to as "signing back" the offer
A new offer made as a reply to an offer received It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror's repeating it
A new offer made in response to an offer received It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror