ContractsContract_default_earnest_money_and_remediesMEDIUM
In June 2026, Riley Monroe receives a counteroffer and asks what generally happens to the original offer. What is the most accurate answer under current Illinois rules?
Correct Answer
C) A counteroffer generally rejects the original offer and proposes new terms that must themselves be accepted.
A counteroffer is not simple acceptance; it replaces the prior proposal with a new one that requires acceptance.
Answer Options
A
A counteroffer automatically accepts the original offer and adds optional suggestions.B
A counteroffer leaves the original offer open forever unless a court closes it.C
A counteroffer generally rejects the original offer and proposes new terms that must themselves be accepted.D
A counteroffer matters only in commercial transactions, not residential ones.Why This Is the Correct Answer
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Why the Other Options Are Wrong
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Key Terms:
breach_remedies_ilcontract_default_earnest_money_and_remediescontractscounterofferdifficulty_3illinois_stateoffer_acceptancescenario
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