Problem:
Assume the offeror, Nancy, makes the following statement to the offeree, Susan: "I promise to sell you "Speedway," a thoroughbred race horse but without a guarantee as to her fitness for racing for your promise to pay $50,000." Susan replies to Nancy by stating, "I promise to pay $50,000 for your promise to sell me "Speedway" with a guarantee as to her fitness for racing." After this exchange, Nancy showed up at Susan's house with Speedway, the horse, with a guarantee that Speedway is fit for racing. In this situation, there is a contract for Nancy properly accepted Susan's counteroffer.