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Homework answers / question archive /   a)   Charlie advertised in the local newspaper that he would pay a reward of RM1000 to anyone who returned him his lost cat "Rosie"

  a)   Charlie advertised in the local newspaper that he would pay a reward of RM1000 to anyone who returned him his lost cat "Rosie"

Economics

 

a)   Charlie advertised in the local newspaper that he would pay a reward of RM1000 to anyone who returned him his lost cat "Rosie". Charlie's colleague, Andrew, recognised Rosie as it was running down the street on which he lived. He captured and returned Rosie to Charlie. At the time he returned Rosie, Andrew was not aware of the reward. Can he now claim the reward? Give reasons for your answer.

b)   Candy sees a rare Ming vase in the window of a shop dealing in antiques. It is labelled "Rare Ming Vase - RM50,000. Credit Cards Accepted". Candy goes into the shop, places her credit card on the counter and asks for the vase. The dealer tells Candy that the vase was marked RM50,000 by mistake and that its actual price is RM1,200,000. Is the antique dealer bound to sell the vase to Candy? Give reasons for your answer.

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