Parties of this type were allowed to renege on their offers in the Learned Hand case James Baird.
Parties of this type were allowed to renege on their offers in the Learned Hand case James Baird. The modern rule disallows such reneging by these parties and is codified in Restatement Section 87(2). Â That rule, which is almost exclusively applied to these parties, arises from an opinion by Justice Traynor involving Star Paving, and states that an offer that the offeror reasonably expects to induce action before acceptance is binding as an option contract. For 10 points, name these parties whose pre-acceptance bids are the subject of promissory estoppel, thus protecting the contractors who deal with them.
Parties of this type were allowed to renege on their offers in the Learned Hand case James Baird.
subcontractors [prompt on construction companies]