Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
The definition states that it is an offer made as a response to any offer. Counteroffers have a vital role to play in several business deals, transactions, and negotiations. They are applicable for private/public transactions between companies and individuals. You can find them in several housing sales transactions, mergers or acquisitions, placements, car sales, employment or work negotiations, and so on.
Counteroffers are applicable in the real estate sector. Sometimes, the buyer may make an initial offer for a property. Or else, the seller may make an initial offer at a selling price to the buyer. Any of the parties may make another counteroffer in response to the same. There could be follow-up counteroffers as well, until the deal is either finalized or rejected altogether.
