Asked by Elyaa Muhammad on Sep 30, 2024

Milner Developers proposed an offer to Henry Wright,an independent contractor,offering to hire him for their next project.They offered him a certain rate and specified the contract details along with describing the stipulated mode of acceptance but received no response.Wright responded to the offer with a quote for a higher amount than that mentioned by Milner Developers.Do the two parties have a binding contract?

A) No,because the offer made by Milner Developers was ambiguous.
B) No,because Wright's letter was a counteroffer to the original offer.
C) Yes,because Milner Developers did receive a response from Wright.
D) Yes,because Wright's silence signaled his acceptance of the offer.

Counteroffer

A response to an original offer in a negotiation, where the terms of the first offer are modified.

Binding Contract

An agreement between two or more parties that is legally enforceable in a court of law.

  • Understand the implications of counteroffers and how they affect contract formation.
  • Understand the legal effects of accepting an offer and the formation of a contract.