A counter-offer in a contract is regarded as?

Assessment: WAEC SSCE - Commerce - 2000 (Objective) Subject: Commerce

Question 1 Report

A counter-offer in a contract is regarded as?
Answer Details
A counter-offer in a contract is regarded as a rejection. This is because a counter-offer is a response to an initial offer that changes the terms of the original offer. It essentially ends the original offer and proposes new terms, which the original offeror can choose to accept or reject. As such, a counter-offer represents a rejection of the original offer, and the offeror is no longer bound by the terms of the original offer.
Read lesson note on Legal Aspects Of Business (JAMB)
Read lesson note on Legal Aspect Of Business (WAEC)
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