Consolidated Edison Co. of New York (Con Ed) sought bids from General Electric Co. (GE) and others to supply it with two huge tr
ansformers. Con Ed required that the bids be held open for 90 days. GE submitted a written bid and included a clause holding the bid open for 90 days. During that period, Con Ed accepted GE’s bid, but GE refused to honor it. Is there a contract?
There is indeed a contract. GE made a firm offer as you can see.This firm offer is ruled by UCC. When you are a merchant and you sign a written firm offer. The same offer may not be revoked or canceled within that period of time or three months whichever is less. Here the offer was for 90 days, that is three months so it is irrevocable.
Religious Group defines a set of individuals whose identity as such in distinctive in terms of common religious creed, belief, doctrines, practices, or rituals.
