As Bennie Entered the Big Table Restaurant, He Noticed a Sign

question 34

Multiple Choice

As Bennie entered The Big Table restaurant, he noticed a sign that said "All- U- Can- Eat - At Our Reasonable Price." Because the restaurant was busy, and because the staff were all tied up with other customers, Bennie found a table for himself and then began eating from the self- serve buffet. After finishing his meal, he paid an appropriate amount to the cashier and left the building. Bennie had not spoken, or been spoken to, at any point. Which of the following statements is TRUE?

• A) Assuming that the general rules apply, no contract was formed until Bennie paid for his meal.
• B) If a court was required to decide how much Bennie had to pay for his meal, it would rely on the concept of quantum meruit.
• C) because he ate without first receiving permission to do so from the restaurant, Bennie probably committed a crime
• D) While he undoubtedly was required to pay for his meal, the lack of communication means that Bennie's obligation to pay could not have arisen in the law of contract.
• E) The facts of this case provide a clear illustration of the concept of a unilateral contract.

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Definitions:

Dividend

A portion of a company's earnings distributed to its shareholders, typically in the form of cash or additional shares.

Parent Company

A company that holds a controlling interest in one or more other companies, called subsidiaries, through ownership of their shares.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single entity.

Unrealized Loss

A loss that results from holding an asset that has decreased in price, but has not yet been sold for a loss.