Seller offers to sell their home to a purchaser for $70,000.00. The purchaser responds that they will buy the home for $60,000.00. The seller refuses the purchaser's offer to buy for $60,000.00. After that refusal, the purchaser then offers to buy the home for $70,000.00. At this time, the legal relationship of the parties is:

Question

Quizplus · Accepted Answer

The purchaser's initial counteroffer of $60,000.00 rejected the seller's original offer of $70,000.00. When the purchaser later offers $70,000.00, it constitutes a new offer, not an acceptance of the original offer.

Seller Offers to Sell Their Home to a Purchaser for $70,000.00