Reference no: EM133293085

[Jewelry Robbery] Jewels by Jen was robbed of a significant number of diamonds by a robber later identified as Dillon. Jewels by Jen offered a reward of $10,000 to anyone who captured or provided information leading to the capture of Dillon. Kevin, a police officer in town, promised Jewels by Jen officials that he would apprehend Dillon. While on duty, Kevin arrested Dillon at a restaurant in town. He found Dillon after Ursula, Dillon's girlfriend, told Kevin about various places Dillon enjoyed eating. Jewels by Jen refuses to pay either Ursula or Kevin any of the reward money.

1. Which of the following is true regarding the offer of the reward?

It pertained to a bilateral contract that could be accepted only with consideration consisting of a promise.

It pertained to a bilateral contract that could be accepted only with consideration consisting of performance.

It pertained to a bilateral contract that could be accepted with consideration consisting of a promise or performance.

It pertained to a unilateral contract that could be accepted with consideration consisting of a promise.

It pertained to a unilateral contract that could be accepted with consideration consisting of performance

2. In a lawsuit between the bank and Kevin regarding the reward funds, who is likely to prevail and why?

Jewels by Jen is likely to prevail because Kevin only provided past consideration.

Jewels by Jen is likely to prevail because Kevin had a preexisting duty to catch Dillon.

Jewels by Jen is likely to prevail because Kevin's promise to catch Dillon was illusory.

Kevin is likely to prevail because his promise to catch Dillon resulted in a binding bilateral contract.

Kevin is likely to prevail because an enforceable unilateral contract exists based on his performance.

3. In a lawsuit between the bank and Ursula, regarding the reward funds, who is likely to prevail and why?

Jewels by Jen is likely to prevail because Ursula only provided past consideration.

Jewels by Jen is likely to prevail because Ursula was tainted by being Dillon's girlfriend.

Jewels by Jen is likely to prevail because no valid bilateral contract existed.

Ursula is likely to prevail because a valid bilateral contract existed.

Ursula is likely to prevail because an enforceable unilateral contract exists based on her provision of information leading to the capture of Dillon.