Stan is ready to sell his house. Here are two situations that may arise:
1) Situation 1:
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Stan signs a contract and sends it to the buyer (= Offer)
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Buyer signs the contract as presented (= Acceptance)
In this event, Stan is under contract and has a deal.
2) Situation 2:
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Stan signs a contract and sends it to the buyer (= Offer)
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Buyer makes a change on the contract (= Rejection + Counteroffer)
In this event, there is no deal. It is a counter back to Stan. He is not under contract.