Sue puts an ad in the paper as follows: $500 reward for the return of my cat." John finds the cat and returns it to Sue, but Sue refuses to pay John the $500. What result if John sues Sue for the money? O Because John did not pay Sue to keep the offer open, Sue is free to revoke and need not pay John anything. John may not recover because he did not contact Sue before he began his search. O Because the ad was merely a solicitaion of offers, there was no contract until Sue accepted John's offer to find her cat, which she never did. The ad was an offer for a unilateral contract, which John accepted by returning the cat. Sue must pay John the $500.
Sue puts an ad in the paper as follows: $500 reward for the return of my cat." John finds the cat and returns it to Sue, but Sue refuses to pay John the $500. What result if John sues Sue for the money? O Because John did not pay Sue to keep the offer open, Sue is free to revoke and need not pay John anything. John may not recover because he did not contact Sue before he began his search. O Because the ad was merely a solicitaion of offers, there was no contract until Sue accepted John's offer to find her cat, which she never did. The ad was an offer for a unilateral contract, which John accepted by returning the cat. Sue must pay John the $500.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Sue puts an ad in the paper as follows: $500 reward for the return
of my cat." John finds the cat and returns it to Sue, but Sue refuses
to pay John the $500. What result if John sues Sue for the
money?
Because John did not pay Sue to keep the offer open, Sue is free
to revoke and need not pay John anything.
John may not recover because he did not contact Sue before he
began his search.
Because the ad was merely a solicitaion of offers, there was no
contract until Sue accepted John's offer to find her cat, which she
never did.
The ad was an offer for a unilateral contract, which John accepted
by returning the cat. Sue must pay John the $500.
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