[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:

Stock-Out

A situation where inventory is exhausted and unavailable for sale or use, often leading to lost sales or production delays.

Collection Period

The average number of days it takes a company to collect payments owed by its customers for sales made on credit.

Credit Sales

Transactions where goods or services are provided to a customer with the agreement that payment will be made at a future date.

Non-Growth Firm

A business that does not expect to increase its revenue or expand its market share significantly over time.