Contracts
A buyer in New Mexico submits an offer. The seller changes the price and signs. This creates:
AAn accepted offer
BA counteroffer that voids the original offer✓ Correct
CA valid binding contract
DAn option
Explanation
When a seller changes any term in the buyer's offer and signs, it constitutes a counteroffer. The original offer is terminated, and the buyer is free to accept, reject, or counter again.
Related New Mexico Contracts Questions
- In New Mexico, which of the following is a TRUE statement about acceptance of an offer?
- In New Mexico, which of the following best describes 'specific performance' as a remedy for breach of a real estate contract?
- A liquidated damages clause in a New Mexico purchase contract typically specifies that:
- Which of the following would make a New Mexico real estate contract void (not merely voidable)?
- In New Mexico, the NM Seller's Property Disclosure Statement requires the seller to disclose:
- A New Mexico seller accepts an offer but later receives a higher offer before closing. The seller must:
- An 'escalation clause' in a New Mexico purchase offer means the buyer agrees to:
- In New Mexico, a contract that is 'void ab initio' is one that:
Practice More New Mexico Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New Mexico Quiz →