70A-2a-205 - Firm offers.
70A-2a-205. Firm offers.
An offer by a merchant to lease goods to or from another person in a signed writing thatby its terms gives assurance it will be held open is not revocable for lack of consideration duringthe time stated or, if no time is stated, for a reasonable time, but in no event may the period ofirrevocability exceed three months. Any such term of assurance on a form supplied by theofferee must be separately signed by the offeror.
Enacted by Chapter 197, 1990 General Session