Asked by
Robert Phillips
on Dec 18, 2024
Verified
Jones Construction asks for bids for subcontracts on a building it is to construct. The successful bid will be an acceptance of Jones' offer.
Subcontracts
Agreements made between a party in an existing contract and a third party to fulfill some or all of the original contract's obligations.
Bids
Offers made by individuals or entities to buy goods, services, or assets at a specified price.
- Gain an understanding of the legal notion of consideration and its importance in establishing contracts.
- Examine the legal concerns associated with tender procedures and the responsibilities of the entities making offers and those replying.
Verified Answer
MM
Learning Objectives
- Gain an understanding of the legal notion of consideration and its importance in establishing contracts.
- Examine the legal concerns associated with tender procedures and the responsibilities of the entities making offers and those replying.
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