Contracts
A buyer submits an offer on a Louisiana property. The seller makes a counteroffer. At this point:
AThe original offer remains open for acceptance
BThe original offer is effectively rejected and replaced by the counteroffer✓ Correct
CBoth parties are bound to the original offer terms
DThe buyer must accept the counteroffer within 48 hours by law
Explanation
When a seller makes a counteroffer, the original buyer's offer is effectively rejected. The counteroffer is a new offer that the buyer may accept, reject, or counter.
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