[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:

Average Income

The median amount of income earned per individual or household in a specific area over a set period.

Debt Ceiling

The maximum amount of money the government is authorized to borrow without seeking approval from Congress.

Chapter 12

A chapter of the Bankruptcy Code specifically designed to address the financial restructuring of family farmers and fishermen.

Farmers

Individuals or entities engaged in the act of agriculture, growing crops and/or raising animals.