A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror. However, with regard to sales of goods, Article 2-207 of the Uniform Commercial Code provides: "A definite and seasonable expression of acceptance or a written confirmation which is sent within a reasonable time operates as an acceptance even though it states terms additional to or different from those offered or agreed upon, unless acceptance is expressly made conditional on assent to the additional or different terms."
Virgin Islands Letter and Notice to Seller Accepting Offer But Proposing Additional Terms - Earlier Delivery Date
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How to fill out Letter And Notice To Seller Accepting Offer But Proposing Additional Terms - Earlier Delivery Date?
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Accepting an Offer to Form a Valid ContractThe acceptance must be communicated.The offer must be accepted without modifications, otherwise it is a counter-offer.Until an offer is accepted it may be revoked.Only the person to whom the offer is made can accept.Acceptance will be judged by an objective standard.01-May-2018
Revocation is an annulment or cancellation of a statement or agreement. In the context of contracts, revocation may refer to the offeror canceling an offer.
5 Implied Acceptance Section 8 of the Indian Contract Act 1872, provides that acceptance by conduct or actions of the promisee is acceptable. So if a person performs certain actions that communicate that he has accepted the offer, such implied acceptance is permissible.
What Is a Contract? When at least two parties voluntarily enter an agreement with one another, this constitutes a contract. This document is legally binding when: One party makes an offer accepted by other parties (agreement).
A proposal may be revoked at any time before the communication of its acceptance is complete as against the proposer, but not afterwards. An acceptance may be revoked at any time before the communication of the acceptance is complete as against the acceptor, but not afterwards.
A conditional acceptance also referred to as an eligible acceptance, occurs when a person to whom an offer has been made tells the offeror that he or she is willing to accept the offer provided that certain changes are made to the condition of the offer.
When an offeree changes the offeror's terms in important ways, the offeree makes a counteroffer.
When the offeree offers a qualified acceptance of the offer subject to modifications and variations in terms of the original offer, he is said to have made a counter offer. A counter offer is a rejection of the original offer.
There are three types of acceptance:Empress acceptance.Implied acceptance.Conditional acceptance.
A counterofferA response to an offer that changes its terms., a response that varies the terms of an offer, is a rejection.
