Arnold Has Offered to Take Bob into His Accounting Firm

question 88

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.

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Definitions:

Morality

Principles concerning the distinction between right and wrong or good and bad behavior.

Altruism

The selfless concern for the well-being of others, often manifested through acts of kindness or generosity.

Big Five Traits

A concept that categorizes human personality into five key categories: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Neuroticism

A characteristic that represents a consistent inclination towards feeling negative or anxious emotions over an extended period.