Texas · Chapter 13 of 44
Sales Contracts and Earnest Money
Offer and counteroffer, earnest money, equitable title, contingencies, option contracts, and installment sales contracts.
20-minute read · Built for the TREC Sales Agent Exam
offercounterofferearnest moneyequitable titlecontingencyoption contractinstallment sales contractcontract for deed
Offer and Counteroffer
An offer becomes a binding contract when accepted unconditionally. Mirror image rule: acceptance must match the offer exactly. Any change is a counter-offer that rejects the original offer. Counter-offers can go back and forth until agreement.
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