Which of the following statements is true of a counteroffer?
A) An offeree that makes the counteroffer is still considered the offeree.
B) A counteroffer terminates the existing offer.
C) A counteroffer can only be made by the offeror.
D) A counteroffer need not be communicated to the offeror.
B
You might also like to view...
Answer the following statements true (T) or false (F)
An argument supporting accounting regulation is that it is better to force mandatory reporting than to have individuals competing to buy information privately.
Which of the following statements defines a bilateral contract?
A) the exchange of one promise for another promise B) the exchange of a promise for an act C) the exchange of two or more promises for two or more acts D) a contract that will be performed twice
In most states, limited liability partnership law restricts the use of the limited liability
partnership form of business ownership to certain types of professionals, such as accountants and lawyers. Indicate whether the statement is true or false
Which of the following statements about limited-payment life insurance is true?
A) It is a form of term insurance. B) It matures at the end of the premium-payment period. C) The premium decreases each year during the premium-payment period. D) Its use may be appropriate if a person wants paid-up life insurance during retirement.