BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -When an offeree changes the offeror’s terms in important ways, the offeree makes a counteroffer.

Detailed explanation-2: -A counteroffer is a response given to an initial offer. A counteroffer means the original offer was rejected and replaced with another one. The counteroffer gives the original offeror three options: accept the counteroffer, reject it, or make another offer.

Detailed explanation-3: -A conditional or qualified acceptance is an acceptance that adds to, or changes, the terms of the original offer. This is essentially a counteroffer. A conditional or qualified acceptance generally terminates the offeree’s power of acceptance.

Detailed explanation-4: -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. Thus, the original offer can no longer be accepted.