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A homeowner offered to sell a piano to a buyer for $6,000, stating that the offer would remain open until Friday. The buyer replied, "Would you consider $5,500? If not, I am still interested in your original price." The homeowner said no. On Thursday, the buyer accepted the $6,000 offer.
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A counteroffer has no legal effect unless it is notarized. A counteroffer is treated as acceptance under the common-law mirror-image rule. A counteroffer ordinarily terminates the original power of acceptance, while a mere inquiry about different terms does not. A rejection is effective only after the offeror agrees with it.

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