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counteroffer

   Also found in: Dictionary/thesaurus, Financial 0.02 sec.

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


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But VW has also made a counteroffer for 49 percent of Porsche's core sportscar operations in a boardroom drama between the carmakers' dominant influences, the Porsche and Piech families.
He handed me the offer I had signed for $25,000, which now had a counteroffer of $29,500 on it.
The first person chosen by selectmen, Michael Hale, accepted a counteroffer to stay as assistant town administrator in Shrewsbury.
 
 
 
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