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In the law of contact, a counter offer operates as

Commerce
JAMB 2018

In the law of contact, a counter offer operates as

  • A. A contact
  • B. an acceptance
  • C. a rejection
  • D. a consensus
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Correct Answer: Option D
Explanation

A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. Consensus ad idem in contract law means there has been a meeting of the minds of all parties involved and everyone involved has accepted the offered contractual obligations of each party.

Consensus ad idem in contract law means there has been a meeting of the minds of all parties involved and everyone involved has accepted the offered contractual obligations of each party


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts