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SQESalespersons Qualifying Examination✓EAQEEstate Agents Qualifying ExaminationOn 2 May, buyer Mr Yip offers HK$6,200,000 for Ms Ng's flat. On 3 May, Ms Ng replies through her agent: 'I will sell at HK$6,450,000.' Mr Yip says that is too high. On 6 May, Ms Ng tells the agent: 'Fine, I accept Mr Yip's HK$6,200,000.' Mr Yip has meanwhile found another flat and refuses to proceed. Is there a contract?
Answer: No. Her counter-offer rejected and destroyed his original offer. Why not the others: - Offer stayed open: Once she made a counter-offer, his offer ended; it could not be revived by her later acceptance. - Acceptance at the buyer's price binds him: Only acceptance of a live offer creates a contract. - Three days passed: There is no fixed three-day lapse rule; an offer without a time limit lapses after a reasonable time. The real reason is the counter-offer. Rule: Acceptance must be unqualified. A conditional or varied acceptance is a counter-offer that destroys the original offer. Source: EAA, A Study Guide to Estate Agency Law and Practice, Part 3, paras 4-5; as at Oct 2026
Thinking an original offer stays open after the other party makes a counter-offer.
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Start practising →An original question written to the published SQE syllabus. Figures in the explanation carry their effective dates; check them against the current law before relying on them. Independent exam practice. Not affiliated with or endorsed by the Estate Agents Authority (EAA) or the examination administrator.