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 ?
Workplace expert discusses why counteroffers often backfire.
Second, if you accept the counteroffer, the fact that you considered leaving the company could mean your loyalty could be called into question.
44) Characterizing a response to an offer as a counteroffer simply because it contains an unimportant boilerplate term, however, also undermined the reasonable expectations of the offeror whom the rule was designed to protect.
Another important question is whether the levels of employers' and employees' initial offers and counteroffers matter for subsequent bargaining rounds.
It claimed that the video provider's withdrawal of the counteroffer constituted bad faith, and asked the commission to require that the video provider carry the broadcast station on terms that the provider had previously proposed.
Nearly four in 10 (36 percent) executives say that it has become more common for their organisation to issue counteroffers to employees tempted by other jobs.
Unfortunately, too many dynamics are already in play during a resignation and changing your mind and accepting a counteroffer is very dangerous and statistically not in your favor.
People close to the deal have played down prospects for a counteroffer, although some bankers think the combined entity could be an attractive takeover target one day.
Davis, whose firm refuses to work with job seekers who will consider counteroffers, says most offers include only a small increase in compensation, a little change, or a promotion.
Sixty-three percent of advertising and marketing executives polled indicate they likely would extend a counteroffer if a prized staff member quit to accept a more lucrative position.
Simple Remote's features include contact management, a detailed transaction screen that allows users to track every aspect of a financing, brokerage, or leasing transaction all on one screen; detailed tracking of offers and counteroffers from multiple bidders on a property; documents and images associated with each transaction are linked; a built-in real estate calculator for every type of real estate calculation; and a calendar with pop-up reminders.
One issue was said to have centered on how to value a certain key real estate site that Target wanted against the backdrop of two possible counteroffers.