An offer is terminated by...

An offer is terminated by rejection by the offeree because, when the offeree explicitly communicates that they do not accept the terms of the offer, it effectively nullifies the original offer. This act of rejection signifies that the offeree no longer wishes to engage with the proposal as presented. It also indicates to the offeror that they cannot subsequently accept the original terms since the opportunity has been declined.

In contrast, other actions such as revocation or counter-offers relate to different parties and conditions in the negotiation process, but they do not align with the concept of terminating an offer through direct rejection from the offeree. The fundamental principle here is that once an offer has been rejected, it is no longer valid, and the original terms cannot be accepted by the offeree afterward.