Bank Robbery.Victor robbed Safe Bank of a significant sum of cash.Safe Bank offered a reward of $10,000 for anyone who captured or provided information leading to the capture of Victor.Ted,a police officer in town,promised Safe Bank officials that he would apprehend Victor.While on duty,Ted arrested Victor at a hamburger joint in town.He found Victor based upon a hunch he had after Ursula,who dated Victor,told him about various places Victor enjoyed eating.The bank refuses to pay either Ursula or Ted any of the reward money.Which of the following is true regarding the offer of the reward?
A)It was made in the context of a bilateral contract that could only be accepted by the offeree's promise as consideration.
B)It was made in the context of a bilateral contract that could only be accepted by the offeree's performance as consideration.
C)It was made in the context of a bilateral contract that could be accepted by the offeree's promise or performance as consideration.
D)It was made in the context of a unilateral contract that could only be accepted by the offeree's promise as consideration.
E)It was made in the context of a unilateral contract that could only be accepted by the offeree's performance as consideration.

Question

Quizplus · Accepted Answer

In a unilateral contract (a promise for an act),one party's consideration is the promise and the other party's consideration is the act.Safe Bank's $10,000 reward offer was a promise that could only be accepted by an offeree's performance of either capturing or providing information leading to the capture of Victor.