[Bank Robbery] Safe Bank Was Robbed of a Significant Sum

question 29

Multiple Choice

[Bank Robbery] Safe Bank was robbed of a significant sum of cash by a robber later identified as Victor Victory. Safe Bank offered a reward of $10,000 to anyone who captured or provided information leading to the capture of Victor. Kareem, a police officer in town, promised Safe Bank officials that he would apprehend Victor. While on duty, Kareem arrested Victor at a restaurant in town. He found Victor after Ursula, Victor's girlfriend, told Kareem about various places Victor enjoyed eating. The bank refuses to pay either Ursula or Kareem any of the reward money.
-Which of the following is true regarding the offer of the reward?

• A) It pertained to a bilateral contract that could be accepted only with consideration consisting of a promise.
• B) It pertained to a bilateral contract that could be accepted only with consideration consisting of performance.
• C) It pertained to a bilateral contract that could be accepted with consideration consisting of a promise or performance.
• D) It pertained to a unilateral contract that could be accepted with consideration consisting of a promise.
• E) It pertained to a unilateral contract that could be accepted with consideration consisting of performance.

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Definitions:

Marked Up

Refers to the percentage increase in the price of a good or service over its original cost to achieve a profit.

Marked Down

Refers to a reduction in the selling price of goods or services, typically to clear inventory or to boost sales.

Sale Price

The final amount at which an item is sold after any discounts or promotions.

Operating Expense

Costs associated with the day-to-day functioning of a business, excluding production costs but including items like rent, utilities, and salaries.