A purchaser issues a request to get the best possible price on a required product or service. This is referred to as a tendered bid. The Supreme Court of Canada has decided that in some circumstances such tendered bids:
A) Cannot be revoked.
B) Have no requirement that bidders be treated fairly, as caveat emptor applies.
C) Do not allow for discretion.
D) Are an invitation to treat which carries with it no legal status.
E) Must be in a standard form contract.

Question

Quizplus · Accepted Answer

The Supreme Court of Canada has ruled that in some circumstances, tendered bids cannot be revoked, meaning they are binding once submitted.

A Purchaser Issues a Request to Get the Best Possible