A counter offer is an offer made in response to a previous offer by the other party during negotiations for a final contract. It is a new offer made in response to an offer received. It has the effect of rejecting the original offer, which cannot be accepted thereafter unless revived by the offeror. However, with regard to sales of goods, Article 2-207 of the Uniform Commercial Code provides: "A definite and seasonable expression of acceptance or a written confirmation which is sent within a reasonable time operates as an acceptance even though it states terms additional to or different from those offered or agreed upon, unless acceptance is expressly made conditional on assent to the additional or different terms."
The Illinois Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms is a legal document used in the state of Illinois when a buyer accepts a counteroffer from a seller, but with additional terms added. This document serves as a written confirmation of the acceptance of the counteroffer along with the inclusion of new terms and conditions. Keywords: Illinois, letter, notice, buyer, accepting counteroffer, acceptance, additional terms. This document is essential in achieving a mutual agreement between the buyer and the seller, as it clarifies the updated terms and conditions that are being agreed upon. It ensures that both parties fully understand and acknowledge the new terms along with the fact that the counteroffer has been accepted. Different types of Illinois Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms may include variations based on the specific additional terms being added. For example, the document may cover revised pricing terms, extended timelines for inspections or closing, added contingencies, or any other revised conditions that the buyer wishes to include. By utilizing this document, buyers in the state of Illinois can confidently convey their acceptance of the counteroffer while incorporating additional terms that are crucial to the transaction. This ensures that both parties have a clear understanding of the terms and can move forward with the sale or purchase with confidence. In conclusion, the Illinois Letter and Notice to Buyer Accepting Counteroffer — Acceptance with Additional Terms is a legal document that allows buyers in Illinois to formally accept a counteroffer while adding new terms. It establishes a written record of the acceptance and ensures that both parties are aware of the updated terms and conditions.
