11 §2-1205. Firm offers
Title 11: UNIFORM COMMERCIAL CODE
Article 2-A: LEASES HEADING: PL 1991, C. 805, §4 (NEW)
Part 2: FORMATION AND CONSTRUCTION OF LEASE CONTRACT HEADING: PL 1991, C. 805, §4 (NEW)
§2-1205. Firm offers
An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time, but in no event may the period of irrevocability exceed 3 months. Any such term of assurance on a form supplied by the offeree must be separately signed by the offeror. [1991, c. 805, §4 (NEW).]
SECTION HISTORY
1991, c. 805, §4 (NEW).