For this assignment I really really need help with the questions below there could be for research anywhere I really am unsure. for this I tend to get very confused on how to interpret things completely:( thank you

DIRECTIONS:

• Read the hypotheticals and answer the questions
• Be sure that your answers are written in complete sentences and that you explain your answers with sufficient detail and support.
• You may also use additional relevant and authentic sources from your own research. Be sure to cite any and all materials used to support your answers.

1) James Mann owned a manufacturing plant that assembled cell phones. A CPA audit determined that several phones were missing. Theft by one or more of the workers was suspected. Accordingly, under Mann's instructions, the following sign was placed in the employees' cafeteria:

Reward: We are missing phones. I want all employees to watch for thievery. A reward of $500 will be paid for information given by any employee that leads to the apprehension of employee thieves.

Signed, James Mann

Waldo, a plant employee, read the notice and immediately called Mann, stating, "I accept your offer. I promise to watch other employees and provide you with the requested information." Has a contract been formed? Why or why not? Explain.

2) Sarah's student apartment was unfurnished. She perused "Doug's List," an online classified ad service for non-merchants, and saw this advertisement:

Moving. For sale: a very nice brown leather couch, almost new, $600.

There was an accompanying photo and contact information. Sarah e-mailed the contact, saying she wanted to buy the couch. Does Sarah have a contract with the seller? Why or why not? Explain.

3) Bert purchased Ernie's car. Before selling the car, Ernie had stated to Bert, "This car runs well and is reliable. Last week, I drove the car all the way from Seattle to San Francisco to visit my mother and back again to Seattle." In fact, Ernie was not telling the truth in that he drove to San Francisco to try to talk to his ex-girlfriend, not to visit his mother. Upon discovery of the truth, may Bert avoid the contract? Why or why not? Explain.

4) Melba began work for Acme Company in 1985 as a filling clerk. Thirty years later, she had risen to be comptroller. At a thirty-year celebration party, her boss, Mr. Holder, said, "Melba, I hope you work here for a long time, and you can retire at any time, but if you decide to retire the company will pay you a monthly pension of $2,000 on account of your years of good service." Melba continued to work for another two years, then retired. The company paid the pension for three years and then stopped due to an economic downturn. Melba contacted Acme Company and demanded that it reinstate her pension, but the company claimed it was not obligated to pay Melba's pension because it was based on past consideration. If Melba sues Acme, what would the court likely decide in this case? Explain.

5)Robert owns a 1967 Chevrolet Camaro that is his pride and joy. One night, Robert is out with his friends at a bar. During their second round of drinks, Robert puts his arm around his friend Fred and says, "Fred, you're my best friend in the whole world. You've always been my best friend. Because you're such a great friend, I'm going to give you my Camaro." Fred, being a very quiet person, simply nods and smiles. The next morning, Fred knocks on Robert's door and asks for the keys to Robert's Camaro. Describe each of the four elements of a binding contract and explain whether each element was satisfied in this situation.