Contracts
What is the effect of a counteroffer on the original offer in a South Carolina real estate transaction?
AThe original offer remains open while the counteroffer is considered
BThe original offer is automatically accepted
CThe original offer is rejected and terminated✓ Correct
DThe original offer is suspended for 72 hours
Explanation
In contract law, a counteroffer constitutes a rejection of the original offer and terminates it. The original offeror is no longer bound by the original offer terms.
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