Counteroffer

Definition - Noun
: an offer that is made in response to another and that has additional or differing terms
Under common law, a counteroffer does not constitute an acceptance of an offer and is often considered a rejection of the offer.
Pronunciation'kau'n-t&r-"o'-f&r

Pronunciation Key

  • \&\ as a and u in a b ut
  • \[^&]\ as e in kitt en
  • \&r\ as ur and er in f urther
  • \a\ as a inash
  • \A\ as a in ace
  • \Š\ as o in m op
  • \au\ as ou in ou t
  • \ch\ as ch in ch in
  • \e\ as e in bet
  • \E\ as ea in easy
  • \g\ as g in go
  • \i\ as i in hit
    		•
  • \I\ as i in ice
  • \j\ as j in job
  • \[ng]\ as ng in sing
  • \O\ as o in go
  • \o\ as aw in law
  • \oi\ as oy in boy
  • \th\ as th in thin
  • \[th_]\ as thin the
  • \Ÿ\ as oo in loot
  • \u\ as oo in foot
  • \y\ as y in yet
  • \zh\ as si in vision
    		•


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    Based on Merriam-Webster's Dictionary of Law ©2001.
    Merriam-Webster, Incorporated
    Published under license with Merriam-Webster, Incorporated.
    http://www.m-w.com    		 Merriam-Webster

    promissory estoppel

    an estoppel that prevents a promisor from denying the existence of a promise when the promisee reasonably and foreseeably relies on the promise and to his or her loss acts or fails to act and suffers an injustice that can only be avoided by enforcement of the promise


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