counteroffer
counteroffer, n. Contracts. An offeree’s new offer that varies the terms of the original offer and that ordinarily rejects and terminates the original offer. • A late or defective acceptance is considered a counteroffer. See MIRROR-IMAGE RULE. [Cases: Contracts 24. C.J.S. Contracts §§ 52–53.] — counteroffer, vb. — counterofferor, n.