Counteroffer

A Counteroffer is a legal document used in negotiations to propose new terms in response to an initial offer. Key aspects include:

1. Rejection of the original offer

2. Proposal of modified terms or conditions

3. Often used in real estate, employment, or business transactions

4. May address price, timeline, or other contract elements

5. Creates a new offer, voiding the original

Counteroffers are common in negotiations and can lead to back-and-forth exchanges until parties reach agreement. They allow for flexibility in negotiations and help parties find mutually acceptable terms. When making a counteroffer, it’s important to be clear about which terms are being changed and which remain the same. Once a counteroffer is made, the original offeror is free to accept, reject, or make their own counteroffer. This process continues until an agreement is reached or negotiations end without a deal.