Contracts
A Wisconsin buyer makes an offer with a 48-hour acceptance deadline. The seller makes a counteroffer. What is the status of the original offer?
AIt remains open until the original 48-hour deadline
BIt is automatically extended by another 48 hours
CIt is rejected; only the counteroffer is now open✓ Correct
DIt becomes binding if the buyer does not respond
Explanation
A counteroffer is a rejection of the original offer and a new offer. The original offer is no longer on the table; only the counteroffer remains open for acceptance.
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