counteroffer

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Counteroffer

In contract law, a proposal made in response to an original offer modifying its terms, but which has the legal effect of rejecting it.

A counteroffer normally terminates the original offer, but the original offer remains open for acceptance if the counteroffer expressly provides that the counteroffer shall not constitute a rejection of the offer.

The Uniform Commercial Code (UCC)—a body of law adopted by the states that governs commercial transactions—modifies this principle of contract law with respect to the sale of goods by providing that the "additional terms are to be construed as proposals for addition to the contract."

counteroffer

noun casus foederis, contractual terms, counterbid, counterclause, counterconditions, counterlimitation, countermeasure, counterplan, counterproposal, counterproposition, counterqualification, counterrecommendation, counterreservation, counterstipulation, hard bargaining, negotiation, new offer, part of the bargain, responsive offer, set of terms, terms proposed
References in periodicals archive ?
The more time you have to put the deal together and make counter-offers, the better the chance you have of getting what you really want.
When you meet to discuss the counter-offer, prepare a process timetable and stick to it.
a highway conferee, said the counter-offer would obligate $284 billion in spending on highways and transit.
The counter-offer from the riders looked unlikely to work yesterday.
The target of a counter-offer needs to be reminded that his or her long-term prospects remain unchanged, despite a bump in pay or title, and that the company now will view the individual as susceptible to other job offers in the future.
Our firms research over a number of years suggests that as many as 85 percent of people who waffle and then accept a counter-offer in this situation are back in the job search arena within 18 months.
The announcement of a counter-offer for the acquisition of Al Noor Hospitals Group underscores the appetite for UAE healthcare acquisitions as the industry prepares for a wave of consolidation.
A counter-offer by billionaire activist investor Carl Icahn would see he and Southeastern Asset Management Inc buy back 1.
The Corriere della Sera newspaper, citing what it said were "informed sources," said Mr Berlusconi, Italy's second-richest man, made a counter-offer of pounds 200,000 monthly, and indicated willingness to go up to pounds 300,000 monthly.
Our response should not be to refuse his arrogant demand that the present British rebate must be ended, but to make him a polite counter-offer by stating that we will discontinue all further membership payments, and only restore them when the European Court of Auditors endorses the Commission's accounts, something that they have refused to do for many years past, and are never likely to do in the future, due to the rampant corruption evident within the European Union.
The Six Nations committee have already spurned two contract offers from the BBC and are hoping BSkyB will place a counter-offer which could help drive up the price of what they see as a jewel in the sporting crown.