Termination by Offeree

Question 1

Rejection

Answer 1

When offeree says “no” to offeror

Rejection kills original offer

Question 2

Counteroffer

Answer 2

A response to an offer that rejects the offer but proposes a different deal

Rejection kills+ proposal of new terms

Question 3

Mere Inquiry

Answer 3

If offeree doesn’t exactly say no, the offeree is just trying to feel out if offeror would be interested in another offer

Offeree doesn’t say no
Original offer isn’t dead

Question 4

Conditional Acceptance

Answer 4

Kills original offer and provides new offer

I accept but
I accept if

Question 5

Lapse

Answer 5

Offeree must accept offer within time period specified, or if no time specified, within a reasonable time

Be suspicious of any offer that was not accepted within 30 days