FE-1 Law Of Contract Practice Questions - FE-1 Final Examination - First Part Law Of Contract Exam

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A offers to sell a car to B for €5,000. B replies, "I will give you €4,500." A refuses. B then says, "Very well, I accept your original price of €5,000." A says the deal is off. Is there a binding contract at €5,000?

Yes, because B ultimately matched A's stated price exactly. Yes, because a counter-offer does not affect the validity of the original offer. No, because the price was uncertain throughout the negotiations. No, because B's counter-offer destroyed the original offer, which was no longer open to accept.

Correct Answer:

No, because B's counter-offer destroyed the original offer, which was no longer open to accept.

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