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Once a counter offer is validly accepted, is it too late for the offeror of the counter offer to withdraw it?
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what is a counter offer in contract law Informational
- How can such offers affect the allocation of legal costs in a dispute? How does the concept of apparent authority apply to agents who make or receive counter offers on behalf of a principal?
- What are the most important principles to remember when making or receiving a counter offer?
- How do the "mirror image rule" and counter offers interact? Are there any exceptions to the general rule that a counter offer rejects the original offer?
- Are smart contracts susceptible to the traditional legal concepts of offer, acceptance, and counter offer? How does the legal principle of unjust enrichment potentially apply to situations where parties have engaged in negotiations involving counter offers but ultimately no formal contract is formed?
- What types of mistakes will justify rescission or reformation? How does the law of agency address situations where an agent makes a counter offer that exceeds their actual authority but is subsequently ratified by the principal with knowledge of the unauthorized terms?
- Can counter offers made under such conditions be considered binding? What is the difference between a counter offer and a conditional acceptance that mirrors the original offer but imposes a condition precedent?
- Is a contract formed?
- How does the context of the negotiation influence the interpretation of an offeree's response? What is the significance of the timing of a counter offer in relation to the expiration date of the original offer?
- Are there any types of damages that cannot be excluded by contract? How does the legal concept of "assignment" and "delegation" relate to contracts formed through counter offers?
- 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?
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