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.
in Italy - as Lazio's Swedish coach Sven Goran Eriksson stepped into the chase yesterday with a counter offer for his countryman.
Delivery Schedule: Within A Period Of 6 Months 5 Plus 1 Month Mobilization Period From The Date Of Issue Of Aal / Acceptance Of Counter Offer
Following the approach, the Liverpool-based retailer invited its current management team to make a counter offer, a spokesman revealed.
Blake turned that down but never made a counter offer.
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.
Delivery Schedule: 10 Months 9 Plus 1 Month Mobilization Period From The Date Of Issue Of Aal / Acceptance Of Counter Offer.
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.

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