COMM 300 Lecture Notes - Lecture 10: Legal Tender, Stock Exchange
Document Summary
Can a pre-existing consideration be eligible to form a contract. Consideration is necessary, but some situations that it is not. Part of the debt must be paid. Until that point the creditor can change their mind. Legal tender in province is cash, giving a cheque will not count until it is cleared. Normal tendering occurs when there is something big to be sold, a big business, building, procurement, etc. Of ontario wants to replace the computer systems in a particular region. Competitive pricing is used to get best deal. Pg. 153 contract a, first contract is about how the process will be carried out, offer by the. Ontario government to hold a fair process, you don"t have to worry about whether or not you do all this work for nothing. When you submit your tender to the ontario government, you promise that you will not revoke their offer until they have time to look at it.
