Contracts
A counteroffer by the seller in response to a buyer's offer has what legal effect?
AIt accepts the original offer with minor modifications
BIt rejects the original offer and creates a new offer✓ Correct
CIt requires the buyer to increase their offer
DIt extends the acceptance deadline automatically
Explanation
A counteroffer legally rejects the original offer and constitutes a new offer from the seller. The buyer is free to accept, reject, or counter the new offer.
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