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What is the effect of a counter offer on the original offer?
the original offer is revoked by counter offer
What happens if the buyer does not accept the counter offer?
If the buyer does not accept the counter offer, the original offer made by the seller remains valid and the negotiation process may continue or the buyer may choose to walk away from the deal.
What happens when an initial offer is answered with a counter offer?
When an initial offer is answered with a counter offer, it means that the recipient of the offer is proposing different terms or conditions than what was originally suggested. This can lead to a negotiation process where both parties try to reach a mutually acceptable agreement.
What happens to the original offer when a counteroffer is made?
When a counteroffer is made, the original offer is typically considered rejected and no longer valid.
Why is the buyer not responding to my counter offer?
The buyer may not be responding to your counter offer for various reasons, such as needing more time to consider, seeking other options, or finding the offer unacceptable. It's important to communicate with the buyer to understand their perspective and negotiate further if needed.
What is the effect of a counter offer on the original offer?
the original offer is revoked by counter offer
How do you back out of a singed contract?
Put in an escape clause. If the other party proposes a counter-offer, then you can void the original contract.
What is meant by counter offer with reference to decided cases?
A counter offer is where one party rejects the original offer and makes an offer of his own. The original offer is rejected and the party that made the original offer must accept the counter offer or there cannot be a contract.
What is meant by offer with reference to decided cases?
A counter offer is where one party rejects the original offer and makes an offer of his own. The original offer is rejected and the party that made the original offer must accept the counter offer or there cannot be a contract.
What is a new offer where the terms of an original offer are changed?
You may be thinking of a counter offer.
What terminates an offer with a new offer?
An offer is terminated by a new offer when the original offeror presents a different set of terms or conditions that replace the initial offer. This new offer essentially supersedes the previous one, making it void and no longer available for acceptance. The original offeree may then choose to accept, reject, or counter the new offer. This principle helps ensure clarity and mutual agreement in contractual negotiations.
What happens if the buyer does not accept the counter offer?
If the buyer does not accept the counter offer, the original offer made by the seller remains valid and the negotiation process may continue or the buyer may choose to walk away from the deal.
What are the cases regarding the revocation of an offer?
An outright rejection can cancel an offer also a counter-offer terminates the original offer made. An example of this is the case of Hyde V Wrench 1840. Wrench offered to sell his farm for £1000. Hyde offered £950 (counter-offer) which Wrench rejected. A few days later Hyde said he would buy the farm for £1000. Wrench refused to sell and Hyde maintained that they had a contract. The counter-offer of £950 had rejected the original offer to sell of £100 so therefore the offer was rejected and there was no contract. follow @DA_iGraft
What are the effects of a counter offer?
The effects of a counter offer can be a sale. A counter offer is a response to another offer. Usually the other offer was reasonable but was rejected. A counter offer was given in hopes of it being accepted and a sale being made.
What is a 'counter offer' in legal terms?
a counter offer is a return offer made by one who has rejected an offer.
What is the Mirror Image rule in contract law?
In the law of contracts, the mirror image rule states that an offer must be accepted exactly without modifications. The offeror is the master of his own offer. An attempt to accept the offer on different terms instead creates a counter-offer, and this constitutes a rejection of In the law of contracts, the mirror image rule states that an offer must be accepted exactly without modifications. The offeror is the master of his own offer. An attempt to accept the offer on different terms instead creates a counter-offer, and this constitutes a rejection of the original offerthe original offer
Will photocopying a money order Void it?
No. Photocopying a money order does not make it void but if you are planning to use the photocopy in place of the original then it is null and void. A photo copy of the original money order is worthless and carries no value.
