A buyer makes an offer on the seller's property. The seller changes the price and signs the counteroffer. Which of the following statements regarding this situation is INCORRECT?

A. The original offer has been rejected.
B. The original offeree is now the offeree
C. The agreement is binding on both parties.
D. The counteroffer is a new offer.

Answer: C. The agreement is binding on both parties.

Business

You might also like to view...

Refer to Table 4.1. The HR director's own profile seems to be focused on the personality dimension of:

A) conscientiousness. B) extroversion-introversion. C) emotional stability. D) openness to experience.

Business

A petabyte is 1015 bytes (characters)

Indicate whether the statement is true or false.

Business