An offer made in reply to a previous offer.
A counter-offer is usually made by writing the changes directly on the original offer, crossing out unacceptable terms and adding new terms as desired.
For the counter-offer to be legal, the party making the counter-offer must initial each change and sign the counter-offer.
A counter-offer must include an irrevocable date.
The recipient of the counter-offer has the option to accept the counter-offer during the irrevocable period, in which case it is binding on the party who offered it.