Millie Is Jasper's Border Collie

question 23

Multiple Choice

Millie is Jasper's border collie.After she escaped from his yard, he posted the following notice around the neighbourhood: "$500 reward to anyone who finds Millie and returns her to me." Flo, a woman who lived on Jasper's street, saw Millie when she was walking in the nearby river valley.She returned the dog to Jasper and then headed home.After hearing about the episode during dinner, Flo's husband and children insisted that she should demand payment from Jasper.She followed that advice, but Jasper refused to pay a cent.Which of the following is most likely to be TRUE?

• A)A bilateral contract was created when Flo accepted Jasper's offer by returning Millie to him.
• B)Flo was contractually obligated to return Millie to Jasper as soon as she found the dog.
• C)Although a contract was created between Jasper and Flo, the court will award a reasonable amount to Flo because $500 grossly exceeds the actual value of her services.
• D)As long as Flo knew about the offer when she acted, she is entitled to payment even if she returned Millie to Jasper because she did not want the dog to dig up her garden and not because she wanted the money.
• E)Because advertisements and notices are presumed to be invitations to treat rather than offers, there is no contract between the parties because Jasper did not accept Flo's offer.

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Definitions:

Long Maturity

Long maturity refers to bonds or other fixed-income securities with a longer period until their expiry date, typically associated with greater sensitivity to interest rate changes.

Modified Duration

A measure of the sensitivity of a bond's price to changes in interest rates, reflecting how much the price is expected to change with a 1% move in rates.

Yield Change

A change in the rate of return on an investment, often used in the context of bonds to indicate a change in interest rates or bond prices.

Price Decline

A decrease in the market price of an asset or security over a certain period.