James has made a counter offer.
A counteroffer is a response given to an initial offer. A counteroffer means the original offer was rejected and replaced with another one. The counteroffer gives the original offered three options: accept the counteroffer, reject it, or make another offer.
Counteroffers are prevalent in many types of business negotiations, transactions, private and public deals between two individuals or two entities. You may find them in real state deals, employment negotiations, car sales, private placements, mergers acquisitions, takeovers, etc.
Thus, we can say that James has made a counter offer.
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