digplanet beta 1: Athena
Share digplanet:

Agriculture

Applied sciences

Arts

Belief

Business

Chronology

Culture

Education

Environment

Geography

Health

History

Humanities

Language

Law

Life

Mathematics

Nature

People

Politics

Science

Society

Technology

A firm offer means an irrevocable offer made by a merchant. As a general rule, all offers are revocable at any time prior to acceptance, even those offers that purport to be irrevocable on their face. An exception to this general rule exists under the Merchants Firm Offer Rule:[1]

Uniform Commercial Code 2-205 Firm Offers

An offer (A) by a merchant to buy or sell goods (B) in a signed record that by its terms gives assurance that 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 such period of irrevocability exceed three months; Any such term of assurance in a form supplied by the offeree must be separately signed by the offeror.

Note: That when the period of irrevocability expires, the offer may still remain open until revoked or rejected according to the general rules regarding termination of an offer.

UCC § 2-205 states that an offer is firm and irrevocable if:

  • it is an offer to buy or sell goods
  • it is made by a merchant
  • it is a signed writing

See also[edit]

References[edit]

  1. ^ Uniform Commercial Code - § 2-205. Firm Offers, Cornell University Law School, Legal Information Institute

Original courtesy of Wikipedia: http://en.wikipedia.org/wiki/Firm_offer — Please support Wikipedia.
This page uses Creative Commons Licensed content from Wikipedia. A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.

8200 news items

 
Click Liverpool
Sun, 10 Jan 2016 07:11:15 -0800

Liverpool Chartered Accountancy firm Haines Watts has issued advice for those required to complete a self-assessment tax return, that the January 31st deadline is approaching. Firm Director Russell Silverman has reminded those who have received a ...

CNBC

CNBC
Wed, 03 Feb 2016 20:27:29 -0800

Sharp board members have decided to give Hon Hai preferred negotiating rights, choosing the Taiwan firm's offer over a rescue plan from a Japanese state-backed fund, a source familiar with the move said on Thursday. Hon Hai, also known as Foxconn and ...

New York Times

New York Times
Fri, 05 Feb 2016 10:32:56 -0800

Once you have a firm offer, write down the details and call back. It isn't real until you can get another representative to repeat the new price. BillFixers found this out the hard way in its early days when it billed its customers for its negotiating ...

Financial Times

New York Times
Tue, 02 Feb 2016 03:36:19 -0800

23 for Sainsbury to make a firm offer for Home Retail. Under the terms of the proposed deal, Home Retail shareholders would receive 0.321 shares in the combined company and 55 pence in cash for each share they own, equivalent to about £1.1 billion.

Lifehacker

Lifehacker
Fri, 05 Feb 2016 15:28:56 -0800

Almost nobody is in a position to make a firm offer until they've finished interviewing everyone and have followed up on references, and asking this question reveals a lack of empathy for the interviewers' challenges and a lack of respect and ...
 
Chicago Tribune
Fri, 05 Feb 2016 11:18:45 -0800

As a result, "preliminary or exploratory talks" don't trigger the requirement. That gives members wiggle room to avoid filing anything until they get a firm offer and start negotiating a salary. The use of a headhunter or other third party also may ...

Winnipeg Sun

Winnipeg Sun
Fri, 05 Feb 2016 17:52:30 -0800

There's no firm offer out there, but there's been active discussions in the past 48 hours with numbers.” The other eight pending free agents – most notably kicker Lirim Hajrullahu, defensive back Demond Washington and slotback Nick Moore – were not ...

Express.co.uk

Express.co.uk
Mon, 11 Jan 2016 13:58:55 -0800

And Curtis, who was named Swans manager until the end of the season last week, says Shelvey could leave the club this month if a firm offer is made. “I know there's been enquiries for Jonjo, but I don't think there's been any firm offers for him ...
Loading

Oops, we seem to be having trouble contacting Twitter

Support Wikipedia

A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia. Please add your support for Wikipedia!

Searchlight Group

Digplanet also receives support from Searchlight Group. Visit Searchlight