Asked by lizzy rybarczyk on May 27, 2024
Verified
In a lawsuit between the bank and Ursula, regarding the reward funds, who is likely to prevail and why?
A) The bank is likely to prevail because Ursula only provided past consideration.
B) The bank is likely to prevail because Ursula was tainted by being Victor's girlfriend.
C) The bank is likely to prevail because no valid bilateral contract existed.
D) Ursula is likely to prevail because a valid bilateral contract existed.
E) Ursula is likely to prevail because an enforceable unilateral contract exists based on her provision of information leading to the capture of Victor.
Unilateral Contract
A type of contract where one party makes a promise in exchange for an act by the other party, becoming binding once the act is completed.
Bilateral Contract
A contractual agreement involving two parties where each promises to perform an act in exchange for the other's act.
Past Consideration
Refers to an act or benefit given in the past that cannot be legally considered as an inducement for a contract.
- Identify the characteristics and enforceability of unilateral and bilateral contracts, including the requirement of consideration.
- Understand the legal principles surrounding rewards, including how contracts are formed based on offers of rewards for certain actions.
Verified Answer
Learning Objectives
- Identify the characteristics and enforceability of unilateral and bilateral contracts, including the requirement of consideration.
- Understand the legal principles surrounding rewards, including how contracts are formed based on offers of rewards for certain actions.
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