Contracts
In Arizona, a 'counter-offer' legally:
AExtends the original offer for an additional period
BRejects the original offer and creates a new offer that the original offeror may accept or reject✓ Correct
CBinds both parties to negotiate in good faith until agreement is reached
DModifies specific terms while keeping all other original terms automatically intact
Explanation
A counter-offer is a rejection of the original offer and a new offer. Once a counter-offer is made, the original offer is terminated and cannot be 'revived.' The original offeror now has the power to accept or reject the counter-offer.
Related Arizona Contracts Questions
- Which clause in an Arizona purchase contract allows the buyer to cancel and receive a refund of earnest money if they cannot obtain financing?
- In Arizona, an exclusive-right-to-sell listing agreement means:
- In Arizona, a 'contingency' in a purchase contract is a condition that must be satisfied for:
- An Arizona real estate contract obtained by fraud is:
- In an Arizona purchase contract, 'time is of the essence' means:
- An Arizona commercial lease that has a 'co-tenancy clause' provides:
- An Arizona real estate licensee who is also a party to a transaction (buying or selling their own property) must disclose their licensed status:
- An addendum to an Arizona purchase contract:
Practice More Arizona Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →