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Chad Has Offered to Take Miles into His Accounting Firm

Question 10

Multiple Choice

Chad has offered to take Miles into his accounting firm as a partner upon payment of $5,000 cash.In response,Miles says,"I'll give you $3,000 cash now and I will pay you the remainder in two months after I see whether things are working out as a partnership." In this case:


A) Miles has made a counteroffer;hence there is no contract.
B) Miles has rejected the terms of the original offer,but there is still a contract.
C) Chad is a merchant making a firm offer under Article 2 of the UCC.Hence there is a contract.
D) any indefinite provisions in the contract between Chad and Miles will be supplied by Article 2 of the UCC.

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