Counter offer

An offer can be terminated by a counter offer.

An offer can be terminated by a counter offer.

In the case of Hyde v Wrench (1840) the plaintiff offered to buy the defendant's farm for £950 after the plaintiff had offered it to him to buy for £1000.  The offer of £950 is called a counter offer.  The owner of the farm would not accept the offer of £950. Later the plaintiff tried to accept the offer to buy the farm at £1000 but it was held that this offer no longer existed as it had been terminated by the counter offer.

It remains to be seen if the offeror wants to make a new offer on exactly the same terms but he does not have to do so.

 

 

 

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