Asked by Lucky Mbasela on May 03, 2024
Verified
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.
Unilateral Contract
A promise made by one party in exchange for the performance of an act by another party.
Bilateral Contract
A type of agreement in which both parties involved promise to perform certain actions or obligations.
Consideration
A legal concept referring to something of value exchanged between parties in a contract, making the agreement binding and enforceable.
- Grasp the legal principles governing rewards, including contracts arising from offers of rewards for specific actions.
Verified Answer
ZK
Zybrea KnightMay 04, 2024
Final Answer :
E
Explanation :
The offer of a reward by Safe Bank constitutes a unilateral contract, which is a promise by one party that is open to acceptance by performance. In this case, the performance would be capturing or providing information leading to the capture of Victor Victory. Unlike bilateral contracts, which involve promises exchanged between two parties, a unilateral contract involves an action rather than a promise as the means of acceptance.
Learning Objectives
- Grasp the legal principles governing rewards, including contracts arising from offers of rewards for specific actions.