Contact act
This query is : Resolved
02 February 2018
What is difference between cross offer and counter offer?
03 February 2018
Cross offer: It means offer that a party makes to each other in ignorance of each others offer/s. Cross offers are identical. In the case of cross offers, no binding contract will be created and the offer could not be said to have been accepted by any of the party.
Ex: XYZ writes a letter to ABC offering him to sell his car for Rs 100000. At the same time ABC writes a letter to making a similar offer to buy his car for Rs 100000. Offers of both XYZ and ABC cross each other. Such offers do not constitute to acceptance of one's offer by the other.
Counter Offer: On the other hand, in counter offer there is a rejection of the original offer and a new offer is made that needs acceptance by the original promisor before a contract can be made.
Ex: XYZ offers ABC his car for Rs 100000. ABC rejects the offer and offers XYZ to buy his bike for Rs 80000. Such an offer is known as the counter offer.
Ex: XYZ writes a letter to ABC offering him to sell his car for Rs 100000. At the same time ABC writes a letter to making a similar offer to buy his car for Rs 100000. Offers of both XYZ and ABC cross each other. Such offers do not constitute to acceptance of one's offer by the other.
Counter Offer: On the other hand, in counter offer there is a rejection of the original offer and a new offer is made that needs acceptance by the original promisor before a contract can be made.
Ex: XYZ offers ABC his car for Rs 100000. ABC rejects the offer and offers XYZ to buy his bike for Rs 80000. Such an offer is known as the counter offer.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Consultancy- Non DTAA
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Depreciation of fixed assets- coop housing society in mumbai
- Eway bill generation from place other than registeted
- Condonation . E-Verification of last year return .
- TDS Return Q1 FY 2026-27
- GST rate and HSN code for sale of racing horses
- DIN reactivation
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Management System (IMS)
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
