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All counteroffers must be:

a. in writing.
b. verbal agreements.
c. presented by an attorney.
d. made after escrow closes.

1 Answer

2 votes

Final answer:

The correct answer is that none of the listed statements about the requirements for counteroffers are universally true. Counteroffers are part of the negotiation process and usually occur before escrow closes.

Step-by-step explanation:

The question pertains to the formal requirements of counteroffers in contract law. A counteroffer is considered a rejection of the original offer and the simultaneous making of a new offer. There are no legal specifications that all counteroffers must be in writing, presented by an attorney, or made verbal. It largely depends on the context of the transaction and the type of contract being negotiated. However, one universal principle is that counteroffers are generally made and considered before escrow closes, as they are part of the negotiation process. After escrow closes, the terms are typically set, and the transaction is finalized. Therefore, the correct answer is that none of the statements listed as options are universally true regarding counteroffers.

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