Deal or No Deal?

A contract is formed when there is a meeting of minds. One party, the offeror, makes an offer and the other party, the offeree, accepts. The acceptance must be on the same terms as the offer. When the offeree makes a counteroffer, that is, proposes a term that is different from the offer, the offer is rejected. That leaves the parties back at square one.

You know what the law says, but ifsomeoneplans to sell apaintingfor $300and the other party accepts the dealbutlaterhas changed her mind andwants to sell at $500,no longer wants to sell for $300, should she have to? After all, that was her original asking price(was $300). The counteroffer took the offer off the table and left them with no deal.But is this fair? If it is all part of the same conversation, shouldthe other partybe able to pay the $300 and get the painting? Do you like the rule as it is or would you change it?