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.

Question

Quizplus · Accepted Answer

Miles has made a counteroffer by changing the terms of the original offer (payment structure), which means the original offer is rejected, and no contract is formed unless Chad accepts this new offer.

Chad Has Offered to Take Miles into His Accounting Firm