letting contract

letting contract
The steps in the formation and execution of a contract, particularly a public contract, including an advertising for bids, the reception of bids, and the award of the contract to the lowest bidder, provided he appears to be a responsible bidder.

Ballentine's law dictionary. . 1998.

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  • letting — An Americanism for the act of a public body or private owner for engaging a contractor for the construction of a building or other improvement, normally after bids for the work have been received, thus entailing the selection of a contractor from …   Ballentine's law dictionary

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  • Metayage — Contract for metayage, papyrus, 35th year of Amasis II (533 BC, 26th Dynasty) The Metayage system (Fr. métayage) is the cultivation of land for a proprietor by one who receives a proportion of the produce, as a kind of sharecropping. Cont …   Wikipedia

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