If an agent makes or receives a counter offer on behalf of a principal, what are the legal implications?
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what is a counter offer in contract law Informational
- What factors do courts consider when determining the validity of these clauses? How does the concept of "specific performance" as a remedy apply to breaches of contracts formed through counter offers, particularly in cases involving unique goods or real estate?
- What are the remedies available to the accepting party in such a situation? How does the concept of "accord and satisfaction" relate to situations where parties have a pre-existing contractual obligation and they negotiate a new agreement (potentially through offer and counter offer) to settle the original obligation?
- Can a party transfer their rights or obligations under the contract to a third party without the consent of the other original party?
- Which jurisdiction's law will apply to the formation and interpretation of the contract?
- What are the rules and limitations on assignment and delegation? What are the legal implications of a counter offer that includes a provision for mandatory arbitration of any disputes arising under the contract?
- How about if the buyer asks if the seller would consider $9,500? In real estate transactions, what types of changes typically constitute a counter offer?
- How should an offeror respond to a counter offer to keep negotiations moving forward? Does the method of communication (e.g., oral, written, email) affect the validity of a counter offer?
- How can individuals and businesses protect their interests when negotiating contracts through the exchange of offers and counter offers? Can a rejection of a counter offer be subsequently retracted, allowing the original offer to be accepted?
- What are the elements of a promissory estoppel claim, and what remedies might be available? What are the legal implications of a counter offer that seeks to impose confidentiality obligations on the other party, both during the negotiation phase and after the potential formation of a contract?
- How clear must the offeror of the counter offer make it that acceptance by performance is acceptable? What is the difference between a counter offer and a request for clarification of the terms of an offer?
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