Arnold Has Offered to Take Bob into His Accounting Firm

Multiple Choice

Arnold has offered to take Bob into his accounting firm as a partner upon payment of $5,000 cash. In response, Bob 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."

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