BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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If the offeror doesn’t notice it
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If the offeree thinks the offeror won’t mind
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If the offeror fails to object within a reasonable time
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Only if the original offeror expressly shows an intention to be bound by it
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Detailed explanation-1: -A counteroffer functions as both a rejection of an offer to enter into a contract, as well as a new offer that materially changes the terms of the original offer. Because a counteroffer serves as a rejection, it completely voids the original offer.
Detailed explanation-2: -When an offeree changes the offeror’s terms in important ways, the offeree makes a counteroffer.
Detailed explanation-3: -A unilateral contract-unlike the more common bilateral contract-is a type of agreement where one party (sometimes called the offeror) makes an offer to a person, organization, or the general public.
Detailed explanation-4: -(1) A counteroffer is an offer made by an offeree to his offeror relating to the same matter as the original offer and proposing a substituted bargain differing from that proposed by the original offer.