Question

Buyer Henry is going to accept seller Shannon's $282,500 counteroffer. When will this counteroffer become a contract.


A. Counteroffers cannot become contracts


B. When Henry gives Shannon notice of the acceptance


C. When Henry signs the counteroffer


D. When Shannon first made the counteroffer

Answer 1

The counteroffer will become a contract C. When Henry signs the counteroffer.

Although Shannon is agreeing to the $282,500 and can't change that on her end after she has submitted it, Henry still has to accept it and sign for the counteroffer. For the counteroffer to be contractual they have to be signed because there may be other counter offers coming in that could take the place of Shannon's.