Direct answer
What does Counteroffer mean?
A response that rejects an offer and proposes different terms.
Exam cue: Once an offeree makes a counteroffer, the original offer is generally no longer open unless it is renewed.
What does it look like in a question?
New York example
A seller changes the proposed closing date and purchase price before signing.
Common exam trap
What should you not confuse it with?
A request for information is not necessarily a counteroffer.
Related contracts and leases terms
AssignmentA transfer of a party's contractual rights or leasehold interest to another person, subject to the agreement and law.ConsiderationSomething of legal value exchanged as part of a contract.ContingencyA contract condition that must be satisfied or waived for a stated obligation to become final or continue.Executed contractA contract in which the parties have completed the promised performance.Executory contractA contract under which one or more material obligations remain to be performed.LeaseholdA tenant's right to possess real property for the term and under the conditions of a lease.
Sources used1 reference with section locators
The curriculum citation confirms exam scope. Definition and rule citations support the explanation itself. Links and locators were checked on August 26, 2026.
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