Bankruptcy Section
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Once there is a valid offer, the offeree has the power of acceptance. How does one accept an offer?
Generally, the accepting party must promise or perform under the terms of the offer. The acceptance should mirror the terms without modification. Otherwise, the offer may not be accepted, but rather rejected and constitute a counter-offer. If Boy offers Girl $475 and a bag of chips to paint his house and Girl promises to paint Boy’s house for $475 and three bags of chips, Girl has rejected Boy’s offer and counter-offered. The power of acceptance now lies with Boy.
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