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.
Delivery Schedule: 10 Months 9 Plus 1 Month Mobilization Period From The Date Of Issue Of Aal / Acceptance Of Counter Offer.

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