Ann Was Offered a Job That Would Pay $20 000,that

question 121

Multiple Choice

Ann was offered a job that would pay $20 000,that would provide for 18 days of vacation after one year of employment,and that would begin one week after her graduation.She wrote back that she would accept the job,but that she would not begin until three weeks after graduation and needed at least 21 days of vacation after the first year of work.On these facts,which of the following is true?

• A)There is no contract because an acceptance must be unconditional,and Ann's counter-offer has not been accepted.
• B)There is a contract as soon as Ann drops her letter in the mailbox.
• C)If Ann had not responded,there would have been a contract because silence is the standard form of acceptance.
• D)Ann is still free to reconsider and take the original offer even after the prospective employer receives her letter.
• E)Since Ann accepted the offer,there is a contract.

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Definitions:

Injunction

A legal order issued by a court that directs an individual or entity to do or not do a specific action.

Earned Surplus Test

A financial measure used to determine the amount of income that a company has earned and is available for dividends distribution after accounting for all necessary expenses.

Surplus Test

A financial measure used to determine if an entity has excess assets over liabilities, often in insurance contexts.

Net Asset Test

A financial metric used to evaluate a company's financial health by subtracting total liabilities from total assets.