Hi Bob,
While negotiating price for the purpose of providing services, businesses often provide a price estimate which is commonly called “quote”. Furthermore, It is possible for a quote to become a binding offer. The courts take into account the circumstances of the negotiations between the parties and the intention of the parties to determine whether the quotation is capable of forming a legally binding contract.
For example, the NSW Supreme Court in Megalift v Terminals [2009] NSWSC 324 held that a quote is capable of amounting to a legally binding contract.
