Question

Jack is buying the Padillas' home. He makes his offer and in his terms states he wants all the window treatments, refrigerator, and microwave to be part of the sale. The Padillas accept his offer on the condition that the refrigerator is the only item that stays in the home. Which contract term applies?

Answer 1

Answer: Counteroffer

Step-by-step explanation:

A counteroffer is referred to as or known as the response that is given over an initial offer. It means that the original offer or the previous offer was not accepted and thus was replaced. The offer tends to give the individual a chance either to accept counteroffer, make another offer or simply reject it.

Typically there is no contract binding the two parties that involved unless one of them tends to accept the offer. These offers are more prevalent in several kinds of business negotiations, private deals and transactions.