Unformatted text preview: price. Rule: Promissory Estoppels holds that a promise made in good faith, and the other relies on that promise in good faith, then they are cannot revoke the offer for a reasonable amount of time. Rational: The subcontractor gave the bid. The general contractor relied on that bid, and gave it to the city. Since the general contractor relied on that bid, the subcontractor cannot revoke his offer, and would be held to his promise, since it was already being put to use. Holding: Subcontractor has to pay for the 3k difference. No contract, but the subcontractor is held under the promissory estoppels doctrine. Synthesis: Dissent/Concurrences:...
View Full Document
This note was uploaded on 12/20/2011 for the course CONTRACTS 111 taught by Professor Dellinger during the Fall '11 term at Western State Colorado University .
- Fall '11