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In law of contract, a counter offer operates as

Commerce
JAMB 2023

In law of contract, a counter offer operates as

  • A. an acceptance
  • B. a rejection
  • C. an offer
  • D. a contract
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Correct Answer: Option B
Explanation

Counter offer meaning is an offer made in response to a previous offer by the other party. It implies a rejection of the original offer and requires an acceptance of the new terms or there is no contract. Counter offer can be used in different situations, such as when an employee resigns or when a seller negotiates with a buyer.


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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789