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Counter offer

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Counter offer

  • This topic has 3 replies, 2 voices, and was last updated 5 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
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  • July 18, 2020 at 8:32 pm #577335
    amara7
    Member
    • Topics: 8
    • Replies: 7
    • ☆

    Is counter offer is an acceptance?

    July 18, 2020 at 8:45 pm #577338
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23335
    • ☆☆☆☆☆

    The effect of a counter-offer is that it destroys the offer and replaces it with its own offer

    If you offer to sell me your car for £2,000 and I say ‘No, but I’ll pay you £1,800’ my £1,800 counter-offer destroys your £2,000 offer

    You turn back to me and say ‘No’

    ‘OK’ says I. ‘I’ll accept your offer to sell for £2,000’

    But I can’t! That offer from you of £2,000 to sell your car was destroyed by my counter-offer

    And you are now in the happy position of being able to accept my new offer of £2,000 or telling me to go fly a kite because there’s no way on this Earth that you will sell me your car!

    OK?

    July 22, 2020 at 3:13 am #577595
    amara7
    Member
    • Topics: 8
    • Replies: 7
    • ☆

    yes got it,thank you for explaining in such a simple and detailed manner

    July 22, 2020 at 7:05 am #577602
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23335
    • ☆☆☆☆☆

    You’re welcome

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