Kamal places an ad in the local newspaper as follows: "$500 reward for the return of my gold ring." Mira finds the ring and returns it to Kamal, but he refuses to pay her the $500. Which of the following statements is true regarding this case? As the ad was merely a solicitation of offers, there was no contract until Kamal accepted Mira's offer to find the ring. Mira may not recover the money because she did not contact Kamal before she began her search. As Mira did not pay Kamal to keep the offer open, he is free to revoke the offer and not pay her anything. Mira accepted the ad as an offer for a unilateral contract by returning the ring and hence, Kamal is bound to pay her the $500.

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6 October, 21:07

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Emma Valdez · Answer 1

The account titles for transaction (D) 5/5 should appear in the Account Title column of the journal entry as A/P-Bellhaven Bank Cash