Question

Harry lost his watch and offers a reward of $100 to the person who returns it to him. Jim finds the watch, sees Harry's name and address on the watch and returns it (Jim never knew of the reward.) Two days later Joe told Jim that Harry had offered a reward and since he (Jim) had found the watch, he should collect it. Can Jim require Harry to pay him the reward?

Result:

Reason:

Exception:

Answer 1

A contract becomes enforceable only when the offer made by the offeror is accepted by the offeree. In the given case Harry lost his watch and makes an offer to reward $ 100 to the person who will return the watch to him. This offer becomes accepted only when a person becomes aware of this offer and finds the watch. It offer becomes enforceabe only when the person who found the watch returns it and asks for the consideration which is has already accepted.

Result : Jim is not entitled for a reward of $100 as he was unaware of the offer and learnt about the same only after Joe told him by which time he had already returned the watch.

Reason: Jim was not aware of Harry's offer at the time of returning the watch. So there is no acceptance.

Exception : Had Jim was aware of the offer and demanded its execution at the time of returning the watch, Harry would have been entitled to execute the contract and pay the reward.