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.
He added if indeed HGC is sincere in its pronouncements that it wants a settlement, it should have given a counter-offer to explore other possible options.
NOTE: The majority of employees that accept a counter-offer and remain with their current employer leave within six mouths to a year.
Sir Tom, who already owns the larger rival garden centre chain Wyevale as well the Blooms of Bressingham brand, could see his plans for a counter-offer frustrated as Tesco has already built up a 28% stake in the company.
When you meet to discuss the counter-offer, prepare a process timetable and stick to it.
From the point of view of a negotiator, the strategic objective of the bid package is to convince the general contractor that your firm can perform the work at the promised price, or at least that your firm is worthy of approaching with a counter-offer or a negotiation process.
a highway conferee, said the counter-offer would obligate $284 billion in spending on highways and transit.
Michael Caulfield, the JA's executive manager, said: "The jockeys felt that the offer could have been a bit more attractive, so a counter-offer has gone back to the owners for them to make a decision.
The councils' counter-offer was to backdate two per cent to April, with a further one per cent in October - still lower than the offer made to equivalent workers in England.
However, the lack of any counter-offer for JBA indicated that financially unsuccessful companies in a depressed ERP sector are hardly in keen demand.
ITV have already offered her a Saturday night slot and now BBC chiefs have tabled a name your price counter-offer for her to do a one-off spectacular.
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.