Contracts
A buyer submits an offer, which the seller counters. The buyer then submits a new counteroffer. What is the status of the seller's original counteroffer?
AIt remains open for the seller to accept
BIt is void — the buyer's new counter replaced it✓ Correct
CIt becomes binding automatically after 24 hours
DBoth parties must agree to void it
Explanation
Each counteroffer voids all previous offers. When the buyer countered the seller's counteroffer, the seller's original counteroffer was automatically voided.
Related California Contracts Questions
- What is an 'addendum' in a real estate contract?
- In California, a minor (under age 18) who purchases real property may:
- Mutual mistake of a material fact in a contract may allow the parties to:
- Under California law, a real estate licensee who acts as a loan broker in a transaction must provide the borrower with a:
- Which of the following describes an 'as-is' clause in a California residential purchase agreement?
- A contingency in a real estate purchase contract is best described as:
- In a California residential purchase agreement, what is a 'contingency'?
- What is a 'land contract' (contract of sale or installment sale contract)?
Practice More California Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free California Quiz →