cross offer
cross offer, defined:
a rejection of a standing offer in the form of a new offer A cross offer reverses the roles of the parties: the party making the initial offer (offeror) becomes the recipient of the cross offer (offeree). The initial offeree becomes the offeror.
cross offer, as it might be used:
The court ruled that the defendant's acceptance of plaintiff's offer was in fact a cross offer; therefore no contract formed was formed.
An example of cross offer:
Fergus receives a bid for carpet cleaning services in the amount of three hundred dollars. Thinking he can get a better price, Fergus makes a counteroffer, saying that he is willing to pay two hundred and fifty for the service. At that point, the carpet cleaning company can either accept of reject Fergus' cross offer.
cross offer may also be referred to as:
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Clear-Point Law Dictionary
