ContractsQuestion 55 of 120
When an offeree responds to an offer by changing a material term, the response is legally a:
a.Counteroffer that rejects the original offer
b.Binding acceptance of the original offer
c.Void contract
d.Unilateral contract
Explanation
Changing a material term rejects the original offer and creates a counteroffer, which the original offeror may accept or reject. The original offer is no longer available for acceptance once a counteroffer is made.
Practice all 120 questions free — no signup required.
Related questions on this topic
- A financing contingency in a purchase contract protects the buyer by:
- The Texas 'option period' (termination option) in the standard residential contract generally allows the buyer to:
- Which of the following best describes a bilateral contract?
- A contract that is missing an essential element and has no legal effect from the beginning is:
- A contract signed by a minor is generally considered:
- 'Time is of the essence' in a contract means:
Last reviewed: · editorial process
PrepPass Editorial Team · Verified against Texas Real Estate Sales Agent Licensing Exam · How we review