- An offer made in response to a previous offer during contract negotiations. The counteroffer rejects the previous offer and simultaneously makes a different offer, changing the terms in some way. For example, if a buyer offers $500 for a used computer and the seller replies that he wants $600, the seller has rejected the original offer and made a counteroffer. Legally, a counteroffer voids an earlier offer, so that if the seller later decided that $500 was an acceptable price after all, the buyer would be under no legal obligation to complete the sale.
Business law dictionary. 2015.
Look at other dictionaries:
counteroffer — coun·ter·of·fer / kau̇n tər ˌȯ fər/ n: an offer that is made in response to another and that has additional or differing terms ◇ Under common law, a counteroffer does not constitute an acceptance of an offer and is often considered a rejection… … Law dictionary
counteroffer — 1788, from COUNTER (Cf. counter ) + OFFER (Cf. offer) (n.) … Etymology dictionary
counteroffer — [kount′ər ôf΄ər] n. an offer proposed in response to one that is unsatisfactory … English World dictionary
Counteroffer — A type of offer made in response to another offer, which was seen as unacceptable. A counteroffer revises the initial offer, making it more appealing for the person making the new offer. Responding with a counteroffer allows a person to decline… … Investment dictionary
counteroffer — UK [ˈkaʊntə(r)ˌɒfə(r)] / US [ˈkaʊntərˌɔfər] noun [countable] Word forms counteroffer : singular counteroffer plural counteroffers business an offer made as an answer to another offer that you do not want to accept, for example an offer by the… … English dictionary
counteroffer — n. to make a counteroffer * * * [ kaʊntəˌrɒfə] to make a counteroffer … Combinatory dictionary
counteroffer — A reply made to a bid If a seller makes an offer of goods on specified terms at a specified price, the buyer may accept it or make a bid against the offer. Sellers who find the bid unacceptable may make a counteroffer, usually on terms or at a… … Big dictionary of business and management
counteroffer — An offer made by one of two negotiating parties in response to an offer by the other party. Where an acceptance of an offer is conditional, or introduces a new term, or varies substantially in any way from the terms of the offer, it may be… … Ballentine's law dictionary
counteroffer — noun Date: 1788 a return offer made by one who has rejected an offer … New Collegiate Dictionary
counteroffer — /kown teuhr aw feuhr, of euhr, kown teuhr aw feuhr, of euhr/, n. an offer or proposal made to offset or substitute for an earlier offer made by another. [1780 90; COUNTER + OFFER] * * * … Universalium