A broker presented a written offer to their seller from a buyer. The offer stated that upon acceptance, the buyer would deposit $25,000 in escrow. The seller made a counteroffer but did not change the amount of the deposit and sent it back to the buyer. The buyer agreed to all the changes but lowered the amount of the deposit to $10,000. Which of the following statements is not correct?

a. The broker needs to get the seller's acceptance of the counteroffer.
b. The buyer has created a counteroffer due to the changed deposit amount.
c. The contract is fully enforceable.
d. No contract exists.

Answer: c. The contract is fully enforceable.

Business

You might also like to view...

The ability of a defendant to escape the jurisdiction of a court is known as delict

Indicate whether the statement is true or false

Business

The Teamsters were expelled from the AFL-CIO in 1987

Indicate whether the statement is true or false

Business