A person receiving an Offer may:
1) Accept it,
2) Reject it,
3) Delay consideration until expiration.
In most cases, in Ontario, a Counter-Offer is considered to be a “rejection”, unless:
- it is made absolutely clear that the Offer is being held in abeyance for further consideration, and
- that the Counter-Offer is without prejudice to the Offeree’s right to accept the Offer prior to its expiration.
Rarely, does the person making a Counter-Offer take these additional steps to ensure that the Counter-Offer is not considered a “rejection”.
Brian Madigan LL.B., Broker