ContractsPregunta 51 de 120
When a seller responds to a buyer's offer by changing the price, this response is legally a:
a.Binding acceptance of the original offer
b.Novation of an existing contract
c.Counteroffer, which rejects the original offer
d.Unilateral contract
Explicación
A counteroffer changes the terms of the original offer and thereby rejects it, creating a new offer that the other party may accept or reject. The original offer is no longer available for acceptance once countered. Negotiations often involve a series of offers and counteroffers.
Practica las 120 preguntas gratis — sin registro.
Preguntas relacionadas de este tema
- For a real estate contract to be enforceable, the Statute of Frauds generally requires that it be:
- The essential elements of a valid contract generally include offer and acceptance, consideration, legal purpose, and:
- A contract in which only one party makes a promise, such as an option to purchase, is a:
- An 'executory' contract is one in which:
- A contingency in a purchase contract, such as a financing or inspection contingency, functions to:
- The remedy of 'specific performance' in a real estate contract dispute means:
Última revisión: · proceso editorial
Equipo Editorial de PrepPass · Verificado con Florida Real Estate Sales Associate Licensing Exam · Cómo revisamos