Contracts
A Colorado buyer submits an offer with a 48-hour acceptance deadline. After 24 hours, the seller counters. The buyer's original offer has:
ABeen accepted since the seller responded within the deadline
BBeen rejected by the counteroffer; the buyer may now accept, counter, or reject the seller's counteroffer✓ Correct
CExtended automatically for another 48 hours
DBeen cancelled since the seller did not accept it outright
Explanation
A counteroffer rejects the original offer in its entirety, regardless of whether it was within the acceptance deadline. The seller's counteroffer is a new offer that the buyer may accept, reject, or counter-propose.
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