Contracts
A Florida seller receives a full-price offer with no contingencies. The seller counters with a price $5,000 higher. The buyer rejects the counteroffer. The original offer is now:
AStill binding since it was a full-price offer
BTerminated — the seller's counteroffer rejected the buyer's original offer✓ Correct
CHeld in escrow pending the seller's reconsideration
DStill open for 3 days after the counteroffer is rejected
Explanation
When a seller makes a counteroffer, they effectively reject the buyer's original offer. The original offer is terminated — it no longer exists. Even if the buyer rejects the counteroffer, they cannot 'fall back' to the original offer unless the seller specifically re-extends it. The seller cannot unilaterally accept the original offer after making a counteroffer.
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