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

question 44

Multiple Choice

As Bennie entered The Big Table restaurant, he noticed a sign that said "All-U-Can-Eat-For One Reasonable Price." Because the restaurant was busy, and because the staff members were all busy 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.Not a word had been spoken between Bennie and the store's employees during the entire episode.Which of the following statements is most likely to be TRUE?

• A)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 within the law of contract.
• B)Assuming that the general rules apply, no contract was formed until Bennie paid for his meal.
• C)If a contract existed between Bennie and The Big Table, it changed from being a unilateral contract into a bilateral contract as soon as Bennie paid for the meal.
• D)If a court is required to decide how much Bennie had to pay for his meal, it will rely on the concept of quantum meruit.
• E)Give the lack of communication between the parties, the contract that was created between the parties must have been unilateral rather than bilateral.

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Definitions:

Retained Earnings Statement

A financial statement that shows how a company's retained earnings have changed during a specific period.

Fiscal Year

A one-year period used for financial and tax reporting purposes, which may or may not align with the calendar year, depending on the company or organization.

Stock Split

A corporate action in which a company divides its existing shares into multiple shares to boost the liquidity of the shares, although the overall value of the company does not change.

Market Price

The current value at which an asset or service can be bought or sold in the marketplace.