term:

Let

let vb

let
let·ting
vt
1 : to offer or grant for rent, lease, or hire
: lease [may not be alienated, , or encumbered] [corporeal things may be out]
2 : to assign esp. after bids [were attempting to a contract without going through the bidding process "Union Springs Tel. Co. v. Rowell, 623 So. 2d 732 (1993)"]
vi
1 : to become rented, leased, or hired
2 : to become awarded to a contractor

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.