options for 5. counter offer/ revocation/ termination

options for 6: acceptance/ rejection/ inquiry

options for 7: does/ does not

op for 8: is/ is not

op for 9: did/ did not

op for 10: revoked/ modified/ renewed

op for 11: did/ did not

op for 12: a valid contract/ no valid

op for 13: does/ does not

op for 14: win/ lose; normile/ segal

Check My Work (1 remaining Offer Miller owned property in North Carolina and listed the property for sale on August 4th. That same day. Normile made an offer to purchase the property. The offer included the following language: "OFFER CLOSING DATE: Time is of the essence. therefore this offer must be accepted on or before 5:00 p.m. August 5th." Miller received the offer, signed it, but also made several changes to the terms. These included an increase in the initial deposit, an increase in the down payment due, and a decrease in the term of the loan from the seller from 25 to 20 years. On the evening of August 4th, Normile received the modified document but neither accepted nor rejected its terms. Instead, Normile said "he was going to wait awhile before he decided what to do with it." The following morning on August Sth. Miller approached Segal, another prospective buyer, and signed an offer to purchase with terms very similar to those presented to Normile the previous evening. At 2:00pm on August 5th. Normile was informed that "[y]ou snooze, you lose the property has been sold." Later that afternoon, Normile initialed the offer containing Miller's modified terms and presented it to Millers representative. When Miller refused to sell the property to Normile, Normile filed a lawsuit against Miller. 1. An offer is a(n) promise or commitment to do or refrain from doing some specified action in the future. 2. In this case. Normile the offeror and Miller is the offeree 3. An offer can v terminate automatically when the period of time specified in the offer has passed. 4. In this case. Normile v made an offer that automatically terminated at 5:00pm on August Sth. 5. Before the offer automatically terminated, Miller replied to Normile with changes in the terms of the offer. This constitutes a Select of the original offer. 6. A counteroffer is a(n) Select of the original offer. 7. A counteroffer Select have to be accepted. 8. If an original offeror does accept the terms of the counteroffer, a valid contract Select created. Gireyed out items are past 9. Normile received the terms of the counteroffer, but Select accept the terms of the counteroffer. 10. When Normile was informed that "tyJou snooze, you lose the property has been sold," Miller had Select counteroffer. her 11. When Segal was presented with the terms of the counteroffer made earlier to Normile. Segal Select accept the terms. 12. Segal's acceptance of the terms offered by Miller causes Select to be created. 13. Normile's subsequent acceptance of Miller's counteroffer Select create a valid contract. 14. Therefore, Normile is likely to select his lawsuit against Miller and Select of the property is likely the legitimate new owner