In Hinson V

question 75

True/False

In Hinson v. N&W Construction Co., where N&W relied on a plumbing bid by Hinson in making a bid on a construction contract that was later awarded, the court held that since Hinson received no consideration for his bid, he could not be bound to it later.

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Definitions:

Earnings Rate

The rate at which a company or investment generates income, usually expressed as a percentage of the investment or the company's capital.

Compound Interest

Interest on a deposit or loan that is calculated based on the initial amount along with the total of all interest accumulated in earlier periods.

Present Value Index

A financial calculation that allows the comparison of the present value of cash inflows to the present value of cash outflows.

Rate of Return

A measure of the profitability of an investment, expressed as a percentage of the original investment.