Unless it is expressly specified that an offer to buy or sell goods must be accepted just as made, the offeree may accept an offer and at the same time propose an additional term. This is contrary to general contract law. Under general contract law, the proposed additional term would be considered a counteroffer and the original offered would be rejected. Under Article 2 of the Uniform Commercial Code, the new term does not reject the original offer. A contract arises on the terms of the original offer, and the new term is a counteroffer. The new term does not become binding until accepted by the original offeror. If, however, the offer states that it must be accepted exactly as made, the ordinary contract law rules apply.
In a transaction between merchants, the additional term becomes part of the contract if that term does not materially alter the offer and no objection is made to it. However, if such an additional term from the seller operates solely to the sellers advantage, it is a material term and must be accepted by the buyer to be effective.
An "Illinois Notice to Seller of Acceptance of Offer by Proposing Additional Terms" is a document that notifies the seller of a real estate property in Illinois about the buyer's acceptance of the offer while including proposed additional terms. This notice outlines the buyer's intention to move forward with the purchase but also suggests modifications or additions to the original terms of the offer. Keywords: Illinois, notice to seller, acceptance of offer, proposing additional terms, real estate, buyer, purchase, modifications, original terms. Different types of Illinois Notice to Seller of Acceptance of Offer by Proposing Additional Terms may include: 1. Residential Notice to Seller of Acceptance of Offer by Proposing Additional Terms: This type of notice is used for residential property transactions in Illinois, where the buyer intends to accept the offer made by the seller but proposes additional terms or modifications to the contract. 2. Commercial Notice to Seller of Acceptance of Offer by Proposing Additional Terms: In the case of commercial real estate transactions, this notice is utilized. It serves to inform the seller that the buyer accepts the offer with additional terms or changes to the original agreement. 3. Land Notice to Seller of Acceptance of Offer by Proposing Additional Terms: When buying or selling vacant land in Illinois, this type of notice can be employed. It communicates the buyer's acceptance of the seller's offer while suggesting additional terms specific to land transactions. 4. Multi-unit Property Notice to Seller of Acceptance of Offer by Proposing Additional Terms: This variation of the notice is applicable when purchasing properties such as duplexes, apartment complexes, or other multi-unit residential buildings in Illinois. It enables the buyer to accept the offer and propose additional terms that accommodate the unique requirements of multi-unit properties. 5. Short Sale Notice to Seller of Acceptance of Offer by Proposing Additional Terms: In situations where a seller is facing financial distress and considering a short sale, this notice can be drafted. It outlines the buyer's acceptance of the offer while proposing additional terms specific to the short sale process, including potential adjustments to the purchase price or closing timeline. In summary, the Illinois Notice to Seller of Acceptance of Offer by Proposing Additional Terms is a flexible document that allows buyers in various types of real estate transactions to accept a seller's offer while proposing modifications or additions to the original terms. It helps facilitate effective communication between buyers and sellers and ensures clarity in the acceptance of an offer.An "Illinois Notice to Seller of Acceptance of Offer by Proposing Additional Terms" is a document that notifies the seller of a real estate property in Illinois about the buyer's acceptance of the offer while including proposed additional terms. This notice outlines the buyer's intention to move forward with the purchase but also suggests modifications or additions to the original terms of the offer. Keywords: Illinois, notice to seller, acceptance of offer, proposing additional terms, real estate, buyer, purchase, modifications, original terms. Different types of Illinois Notice to Seller of Acceptance of Offer by Proposing Additional Terms may include: 1. Residential Notice to Seller of Acceptance of Offer by Proposing Additional Terms: This type of notice is used for residential property transactions in Illinois, where the buyer intends to accept the offer made by the seller but proposes additional terms or modifications to the contract. 2. Commercial Notice to Seller of Acceptance of Offer by Proposing Additional Terms: In the case of commercial real estate transactions, this notice is utilized. It serves to inform the seller that the buyer accepts the offer with additional terms or changes to the original agreement. 3. Land Notice to Seller of Acceptance of Offer by Proposing Additional Terms: When buying or selling vacant land in Illinois, this type of notice can be employed. It communicates the buyer's acceptance of the seller's offer while suggesting additional terms specific to land transactions. 4. Multi-unit Property Notice to Seller of Acceptance of Offer by Proposing Additional Terms: This variation of the notice is applicable when purchasing properties such as duplexes, apartment complexes, or other multi-unit residential buildings in Illinois. It enables the buyer to accept the offer and propose additional terms that accommodate the unique requirements of multi-unit properties. 5. Short Sale Notice to Seller of Acceptance of Offer by Proposing Additional Terms: In situations where a seller is facing financial distress and considering a short sale, this notice can be drafted. It outlines the buyer's acceptance of the offer while proposing additional terms specific to the short sale process, including potential adjustments to the purchase price or closing timeline. In summary, the Illinois Notice to Seller of Acceptance of Offer by Proposing Additional Terms is a flexible document that allows buyers in various types of real estate transactions to accept a seller's offer while proposing modifications or additions to the original terms. It helps facilitate effective communication between buyers and sellers and ensures clarity in the acceptance of an offer.
