Contracts
A counteroffer in South Dakota real estate has which legal effect?
AIt extends the original offer by 24 hours
BIt rejects the original offer and creates a new offer✓ Correct
CIt modifies the original offer while keeping it open
DIt automatically binds both parties to new terms
Explanation
A counteroffer legally rejects the original offer and constitutes a new offer. The original offeror is no longer bound and may accept, reject, or counter the new offer.
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