A Counteroffer

question 4

Multiple Choice

A counteroffer:

• A) impliedly rejects an offer.
• B) does not affect the material terms of the contract.
• C) is a mirror-image of the offer.
• D) is an inquiry into the terms of the offer.

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Definitions:

Prompt Payment Discount

A discount offered to customers by suppliers as an incentive for early payment of their invoices within a specified period.

Foregone

Something missed or given up, often used in the context of opportunities or profits that were not realized.

Prime Rate

The interest rate that commercial banks charge their most credit-worthy customers, often used as a reference rate for various loans.

Revolving Credit

A credit facility that allows a company or individual to borrow up to a pre-approved limit, pay it back, and borrow again.