Contracts
A seller counters an offer by changing the closing date and price. The original offer is now:
AStill in effect until the buyer formally rejects it
BRejected; the counteroffer acts as a rejection of the original offer✓ Correct
CSuspended pending the buyer's decision on the counteroffer
DMerged with the counteroffer to create a new hybrid agreement
Explanation
A counteroffer acts as a rejection of the original offer and simultaneously creates a new offer from the seller. The original offer is extinguished and cannot be accepted by the seller after making a counteroffer unless the buyer reinstates it.
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