Contracts
If a Vermont property seller accepts a buyer's offer but makes a small change to one term (e.g., changing the closing date), this creates:
AAn accepted contract binding on both parties
BA counter-offer that the buyer must accept or reject — the original offer is terminated✓ Correct
CA voidable contract that either party may rescind
DA backup offer situation
Explanation
Any change to the terms of an offer — even a minor one like a closing date — creates a counter-offer rather than an acceptance. A counter-offer rejects the original offer and becomes a new offer from the counter-offeror, which the other party may accept, reject, or counter.
Related Vermont Contracts Questions
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- Which of the following is NOT a way a Vermont real estate contract can be terminated?
- A counteroffer in Vermont real estate negotiations:
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