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."

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
This employment trend has become known as a counter offer. It may seem a win-win situation for both the employer and the employee -- after all the employer keeps an experienced member of staff, saving time and money on recruiting and training a replacement, and the employee receives more cash and a new job title without the upheaval of leaving -- but counter offers are not all they are cracked up to be.
It should do -- most employees who accept counter offers leave within six to 12 months.
The series' XW microwave counter offers three frequency ranges, up to 46 GHz.