LAW 122 Lecture 10: Lecture 10.docx

• School: Ryerson University
• Department: Law and Business
• Course: LAW 122
• Professor: Theresa Miedema

Document Summary

It has to be clear in the exclusion clause that you are not able to hold the company liable. Potential outcome one: revocation: taking back the offer. It implies exclusivity: if you do revoke it, the offeree has the right to sue you for breach of contract, gratuitous promise (firm promise): a promise that is given for free and it is not contractual. John broke his promise, and this is unethical: this is the business world, if he wanted that offer to stay open, he should have paid for it. John"s reputation is going to get ruined if he keeps going around and breaking promises he makes to people. It is binding: there are 2 contracts in every tender process: K1: when city puts out a tender, the tender actually is an offer. They offer to give them a fair process and follow rules ad long as in return they offer an irrvocable bid. (one that they cannot take back)