Contracts
A buyer makes an offer with a 48-hour acceptance deadline. The seller counters with different terms. The buyer's original offer is now:
AStill valid until the 48-hour deadline expires
BAutomatically accepted by the counteroffer
CTerminated and replaced by the counteroffer✓ Correct
DBinding on the buyer but not the seller
Explanation
A counteroffer is a rejection of the original offer and constitutes a new offer. The original offer is terminated, and the buyer is free to accept, reject, or counter the seller's new terms.
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