Contracts
A buyer in Alaska submits an offer with a 48-hour acceptance deadline. The seller makes a counteroffer at hour 47. Which statement is TRUE?
AThe original offer is still in effect and the buyer must respond
BThe counteroffer terminates the original offer; the buyer may accept, reject, or counter✓ Correct
CThe seller automatically extends the deadline by 48 more hours
DThe counteroffer is void because it was made before the deadline
Explanation
A counteroffer is a rejection of the original offer and simultaneously a new offer. The original offer is extinguished, and the buyer may now accept, reject, or make another counteroffer.
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