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16 October, 10:58

Rafi offers to sell his sailboat, Sea Siren, to Tara for $50,000. Referring to the prices for similar vessels, Tara says, "I'll pay no more than $40,000." Rafi's offer is a. terminated. b. rejected and subject to a counteroffer. c. revoked. d. still open.

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  1. 16 October, 14:11
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    Correct option is (b)

    Explanation:

    Rafi expresses his desire to sell his sailboat for $50,000. Tara offers a counter offer of buying the sailboat for $40,000 as similar vessels are priced around $40,000.

    Counter offer refers to providing another offer against the initial offer that was rejected by the offeree. In this case, Tara' s offer to pay $40,000 is counteroffer. So, it can be said that Rafi's offer to sell at $50,000 was rejected and subjected to counteroffer of $40,000.
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Home » Business » Rafi offers to sell his sailboat, Sea Siren, to Tara for $50,000. Referring to the prices for similar vessels, Tara says, "I'll pay no more than $40,000." Rafi's offer is a. terminated. b. rejected and subject to a counteroffer. c. revoked. d.
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