Can a party retract a counter-offer and return to the original terms after negotiations have begun?

• A. No, counter-offers negate any previous offers, so at least one term must be different.
• B. No, once the initial offer is rejected, it's dead and new terms need to be negotiated.
• C. Yes, as long as someone still has a copy of the initial offer.
• D. Yes, but a new counter-offer must be drawn up to include the original offer's terms.

Answer: (D)