Question

What happens to an initial offer from the buyer after a seller counters? a) It becomes void. b) It remains unchanged. c) It is accepted immediately. d) It can be accepted or countered again by the buyer.

Answer 1

Once a counter offer is made by the original offeree, he cannot subsequently accept the original offer, since the original offer stands revoked. It is only if acceptance is given to the new offer that a contract shall be created.