[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.

Question

Quizplus · Accepted Answer

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.

[Bank Robbery] Safe Bank Was Robbed of a Significant Sum