Contracts
In Oregon, a counteroffer to a real estate purchase agreement:
AMust be accepted within 24 hours
BConstitutes a rejection of the original offer and creates a new offer that the original offeror may accept or reject✓ Correct
CAutomatically extends all deadlines in the original offer by 5 days
DCan only modify the price, not other terms
Explanation
A counteroffer simultaneously rejects the original offer and makes a new offer. Once a counteroffer is made, the original offer is dead — the original offeror cannot go back and accept the original offer. The person who made the counteroffer is now the offeror, and the original offeror becomes the offeree. Either party can walk away if they cannot reach agreement through the negotiation process.
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