Contracts
What is the legal effect of a buyer's conditional acceptance of a seller's counteroffer in Iowa?
AIt creates a binding contract
BIt is another counteroffer that the seller may accept or reject✓ Correct
CIt is deemed acceptance of the seller's counter
DIt voids the transaction
Explanation
A conditional acceptance changes the terms of the offer/counteroffer and constitutes a new counteroffer. The original offeror (seller) may accept or reject the new terms.
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