Multiple Choice
AtlasNow Construction Company, a general contractor, plans to place a bid for building a hospital. It requests bids from subcontractors for plumbing and other construction related services that will be needed for building the hospital. Catapipes Plumbing Company, a plumbing subcontractor, submits the lowest bid for the plumbing work, and AtlasNow incorporates Catapipes's low bid in its own bid for the general contract. Based on all of the subcontractors' bids, AtlasNow submits the lowest overall bid to build the hospital and is awarded the contract. If Catapipes Plumbing plans to withdraw its bid, what legal doctrine can help AtlasNow from being meted out injustice due to lack of consideration?
A) promissory estoppel
B) freedom of contract
C) acquiescence
D) exclusionary rule
Correct Answer:
Verified
Correct Answer:
Verified
Q24: To be enforceable, a contract must be
Q25: A promise lacks consideration if a person
Q26: Promissory estoppel is an equity doctrine that
Q27: Which of the following is true of
Q28: A contract is considered to be supported
Q30: What is contract consideration?
Q31: An illusory promise is an example of
Q32: In an output contract, the buyer agrees
Q33: What is a best-efforts contract?
Q34: A contract in which a seller agrees