70A-2a-205. 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 three months. Any such term of assurance on a form supplied by the
offeree must be separately signed by the offeror.
Enacted by Chapter 197, 1990 General Session
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Last revised: Thursday, May 28, 2009