Which of the following is true regarding bids?

A) Advertisements for bids are treated as offers.
B) Promissory estoppel can be used to prevent withdrawal of bids.
C) Bids for governmental contracts are covered under contract principles.
D) Those that submit a bid are called offerees.

Promissory Estoppel

A legal principle that prevents a promisor from revoking a promise when the promisee has reasonably relied on the promise to their detriment, thereby enforcing the promise to avoid injustice.

Governmental Contracts

Agreements entered into by government agencies with private entities or individuals for the supply of goods, services, or the undertaking of works.

Offerees

Individuals or entities to whom an offer is made, which they can either accept or reject.