Contracts
In Michigan, a counteroffer legally:
AKeeps the original offer alive and adds new terms
BRejects the original offer and creates a new offer✓ Correct
CBinds the original offeror to the new terms automatically
DExtends the acceptance deadline of the original offer
Explanation
A counteroffer constitutes a rejection of the original offer and creates a new offer with different terms. The original offer is extinguished and cannot be accepted after a counteroffer is made.
Related Michigan Contracts Questions
- In Michigan, an 'earnest money release' form is used when:
- A Michigan purchase agreement contains a 'save harmless' (hold harmless) clause. This clause typically protects the:
- In Michigan, a 'right of rescission' for a buyer applies automatically under which federal law for refinancing a primary residence?
- In Michigan, a 'wrap-around mortgage' (all-inclusive trust deed) is a form of:
- In Michigan, which form of listing agreement gives the seller the greatest flexibility to sell the property themselves?
- In Michigan, a 'right of rescission' under federal TILA allows a borrower in a refinance transaction to:
- In Michigan, the 'four corners' rule in contract interpretation means:
- In Michigan, an 'assignable contract' means that:
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →