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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]


  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.
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3002 news items

Fairfield Daily Republic
Tue, 10 Nov 2015 14:52:30 -0800

FAIRFIELD — NorthBay Cancer Center and Solano Diagnostics Imaging will offer free screenings in December for high-risk lung cancer candidates. Candidates eligible for screening are between the ages of 55 to 74 and have a “30-packs-a-year” history of ...

City A.M.

City A.M.
Tue, 10 Nov 2015 12:42:29 -0800

AB Inbev, the Stella Artois and Budweiser producer, has already been granted three extensions to its deadline to make a firm offer for the FTSE 100 brewer with the latest deadline set at 5pm today by the UK's Takeover Panel, which regulates mergers and ...

Bristol Herald Courier (press release) (blog)

Bristol Herald Courier (press release) (blog)
Fri, 06 Nov 2015 20:53:58 -0800

The city of Bristol, Virginia, has received an unsolicited proposal from Integrity Golf for the privatization of operations at Clear Creek Golf Course, which is currently municipally owned and operated. Buy this photo. Posted: Friday, November 6, 2015 ...
Business News Americas (subscription)
Wed, 04 Nov 2015 06:48:45 -0800

The Asian firm's offer is far below the 344mn reais OAS Soluções Ambientais paid the city in 2012 for the 30-year concession contract and, according to the report, this raises questions as a local prosecutor has valued the original contract at 70.8mn ...
PR Web (press release)
Tue, 10 Nov 2015 08:41:15 -0800

TagQuest Marketing, an industry leader in direct marketing customer acquisition, announces the launch of a new program, Dealer Direct, that enables the Dealer to make a firm offer of credit to creditworthy consumers by accessing Equifax pre-screen data ...

Wall Street Journal (blog)

Wall Street Journal (blog)
Fri, 27 Nov 2015 04:56:15 -0800

Even before you get a firm offer, google around to see what the import requirements are for the country you're thinking about relocating to. Some, like Australia, require months-long quarantine. Others, like South Africa, require no quarantine at all ...

Milwaukee Journal Sentinel

Milwaukee Journal Sentinel
Wed, 25 Nov 2015 10:53:55 -0800

Chief among the union's objections to the family-owned firm's offer were increases in health insurance costs for employees and the continuation of the two-tier wage structure the company succeeded in establishing in contract negotiations in 2010.

The National Business Review

New Zealand Herald
Thu, 26 Nov 2015 09:45:41 -0800

... making sure we have additional capital available to make the most of the opportunities we've created for ourselves as a company," he said. The broker firm offer is scheduled to open on December 4. First NZ Capital is the sole lead manager for the ...

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