Contracts
In Virginia, a counteroffer by the seller has what effect on the original offer?
AIt extends the original offer for 5 business days
BIt accepts the original offer while adding new terms
CIt rejects the original offer and creates a new offer✓ Correct
DIt binds both parties to the original terms
Explanation
A counteroffer legally rejects the original offer and creates a new offer. The original buyer is now the offeree and is free to accept, reject, or counter the new offer.
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