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Bob offered to sell his racing bike to Ted for $2,500

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Bob offered to sell his racing bike to Ted for $2,500. Ted replied that it was much money but he would pay $1,500. Bob said no. Two days later, Ted said that Bob's original offer was acceptable. Which of the following best describes this situation?;A.;Ted made a counteroffer, but Bob's offer may still be accepted.;B.;Bob may now accept Ted's counteroffer.;C.;There is now a valid contract between Bob and Ted.;D.;Ted's counteroffer of $1,500 terminated Bob's original offer.

 

Paper#35488 | Written in 18-Jul-2015

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