12. The seller has changed the price and closing date originally presented by a buyer and submits this back for the buyer’s acceptance. This is best described as
Answer: C
This is best described as a counteroffer that cancels the original offer.
When the seller changes the price and closing date of the offer and submits it back to the buyer, this action constitutes a counteroffer that nullifies the original offer.
A) an amended offer.
An amended offer would imply that the original offer remains intact while changes are made to it. However, since the seller is altering critical terms and resubmitting it, this does not fit the definition of an amended offer.
B) a conditional acceptance of the original offer.
A conditional acceptance would suggest that the seller accepts the original offer but with conditions attached. In this case, since the seller has changed the terms, it is not an acceptance of the original offer, making this option incorrect.
C) a counteroffer that cancels the original offer.
This option accurately describes the situation as the seller's changes to the price and closing date create a new offer that overrides the original one. The original offer is effectively cancelled by this new submission.
D) a counteroffer that allows the original offer to also continue.
This option suggests a scenario where both the new terms and the original offer remain valid, which is not the case here. A counteroffer inherently cancels the original offer, making this choice inaccurate.
Conclusion
The correct answer is C because the seller's modifications constitute a counteroffer that invalidates the original terms. All other options fail to accurately describe the legal ramifications of the seller's actions, as they either imply that the original offer remains or mischaracterize the nature of the seller's response.