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7. TERMINATION OF OFFERS. a. I offer Betty my Super Bowl tickets for $400. She replies, I'll give you $350. Is it an acceptance, rejection,

7. TERMINATION OF OFFERS.

a. I offer Betty my Super Bowl tickets for $400. She replies, "I'll give you $350". Is it an

acceptance, rejection, or counteroffer?

b. I could accept this counter offer - if I say "it's a deal" then we have a contract. If she makes

this counteroffer of $350, and I reject it, then she changes her mind and says "OK, I'll take

them for $400" has a contract been formed? Explain why or why not.

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