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LSDefine

Simple English definitions for legal terms

bid

Read a random definition: International Court of Justice

A quick definition of bid:

A bid is an offer to do a job or provide materials for a certain price. The person making the bid doesn't have any rights until the other person agrees to it. Sometimes people try to cheat by not making a bid themselves, but waiting for someone else to do it and then offering to do the job for less money. This is called "bid peddling." Another way people cheat is by pressuring others to make lower bids, which is called "bid shopping." Finally, if people work together to raise prices, that's called "bid rigging," which is against the law.

A more thorough explanation:

A bid is an offer to do a job or provide materials at a certain price. The person making the bid is called the offeror, and the person receiving the bid is called the offeree. The offeree can choose to accept or reject the bid.

  • Bid peddling: This is when a subcontractor chooses not to bid on a job, but waits for another subcontractor to pay for the estimate and make an offer. Then, the first subcontractor offers to do the job for a lower price. This is not fair to the subcontractor who paid for the estimate, and it can be illegal.
  • Bid shopping: This is when a general contractor receives a bid from one subcontractor, but then pressures other subcontractors to submit lower bids. This is not fair to the subcontractors, and it can lead to lower quality work.
  • Bid rigging: This is when competitors work together to raise prices for their goods or services. This is illegal because it is a violation of antitrust laws.

These examples show how bids can be used unfairly. Bid peddling and bid shopping are both examples of unfair competition, while bid rigging is illegal. It is important for bids to be made fairly and honestly, so that everyone has a fair chance to get the job.

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Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
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