counter offer


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counter offer

n. an offer made in response to a previous offer by the other party during negotiations for a final contract. Making a counter offer automatically rejects the prior offer, and requires an acceptance under the terms of the counter offer or there is no contract. Example: Susan Seller offers to sell her house for $150,000, to be paid in 60 days; Bruce Buyer receives the offer and gives Seller a counter offer of $140,000, payable in 45 days. The original offer is dead, despite the shorter time for payment since the price is lower. Seller then can choose to accept at $140,000, counter again at some compromise price, reject the counter offer, or let it expire. (See: offer, contract)

References in periodicals archive ?
But there are pros and cons to making and accepting a counter offer.
Thus I write today to urge you to put your counter offer on the table this week and to begin to work in earnest and with a sense of urgency to reach an agreement on a bill that can pass out of your chamber before you adjourn next week, that the House will support, and if sent to my desk, I will sign.
Lazio's Swedish coach Sven Goran Eriksson stepped into the chase yesterday with a counter offer for his fellow countryman.
I'm aware that a counter offer was made yesterday that is not fully acceptable, and that they are going back to the drawing board in the next week to see what can be resolved.
According to Mead, the 31-year-old Hill has given the club a counter offer, but ``he wants to see what is out there and get a taste of it.
The team told KABC about the decision Wednesday morning, after announcing it on KIIS, without giving their partner a chance to counter offer.
The union offered annual concessions of $16,000 per employee and was awaiting a counter offer when the company called off talks.
Coates of its merits, without requesting any details of the proposed transaction, and without any counter offer or effort to negotiate a more favorable transaction.
The Special Committee itself never responded to General Lyon or his investment bankers with a counter offer.
Horizon made the counter offer to ensure it would be the successful bidder and to continue our expansion efforts along Southern Lake Michigan.
At the March 14, 2002 negotiating meeting Digene presented an offer, and Enzo proposed a counter offer, which Digene indicated they would take under advisement.
AngloGold has since made a counter offer as the battle for Normandy intensifies.

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