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] A firm offer in effect creates an option contract without requiring any consideration from the prospective buyer. Because the firm offer holds the seller to a higher standard than the potential buyer, it reflects a change from traditional common law, which treated all parties to a contract the same way, to a more modern view that holds certain parties to a higher standard of behavior.

UCC 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.
A portion of the proceeds from advertising on Digplanet goes to supporting Wikipedia.
490205 videos foundNext > 

Firm Offer "From a Merchant"

LYRICS BELOW (click "Show more"): Firm Offer "From a Merchant" Under Article 2 Under Article 2, there are circumstances in which a promise to keep an offer o...

Putting in a 'Firm' Offer on a Housing Purchase

MonsterMortgage.ca Mortgage Expert Kristian Harris discusses a decision that many prospective home-owners often have to make - whether to submit an offer to ...

A Firm Offer for the HMS ARK ROYAL - Flawed Tender Analysis - The actual bid documentation v2

For more on this Video goto: http://www.theanemoiplan.co.uk Please sign the epetition here: http://epetitions.direct.gov.uk/petitions/38386 The following Vid...

Syria government makes firm offer of dialogue to opposition

http://www.euronews.com/ Syria's Foreign Minister Walid al-Moualem has said the government is ready for talks with armed opposition forces fighting to overth...

The Firm (1/9) Movie CLIP - No Associate Has Ever Failed the Bar Exam (1993) HD

The Firm Movie Clip - watch all clips http://j.mp/AkaL09 click to subscribe http://j.mp/sNDUs5 Mitch (Tom Cruise) is repeatedly informed by the firm's lawyer...

McKellar Law Firm - Offer in Compromise Overview

McKellar Law Firm - Offer in Compromise Overview.

Firm Offer and Emma

Hard to believe that this OTT thoroughbred has won nearly $7000000 on the track.

Tough Interview Questions: Did the Firm You Interned With Offer a Job to You?

In this video, Jeff Altman, The Big Game Hunter answers one of those tough interview questions, "I see you interned with a firm. Did they offer you a full-ti...

AboveNet Reportedly Receives Offer From Private-Equity Firm

AboveNet (NASDAQ:ABVT), which has been trying to raise interest through a JP Morgan (NYSE:JPM)-run auction over the past few months, has received a binding o...

How to Offer a Firm Price and Succeed

Do you know when and how to offer a firm price -- and not waver from it? This video shows you. Mark Hunter "The Sales Hunter" also explains how to offer a pr...

490205 videos foundNext > 

300 news items

Livemint

Livemint
Tue, 22 Apr 2014 22:11:32 -0700

Mallya, whose UB Group holds a 22% stake in Mangalore Chemicals, could lose management control if the Pune-based firm's offer is fully subscribed to by minority shareholders. The target company, which produces farm inputs and posted Rs.2,790 crore in ...
 
Royal Gazette
Thu, 10 Apr 2014 06:41:15 -0700

Great news on receiving an offer at a price point you think you can work with; however, you still have a long way to go before your agent can put a SOLD sign on your property! So allow your agent to keep marketing it for you and keep showing it, just ...
 
Atlanta Journal Constitution
Thu, 17 Apr 2014 08:40:26 -0700

During the announcement of the Progressive acquisition, Aaron's also said it was rejecting Vintage's bid, calling the firm's offer of $30.50 per share “inadequate” and “illusory.” “Your decision to reject our offer and instead spend $700 million on the ...
 
caughtoffside
Tue, 08 Apr 2014 14:00:46 -0700

Tottenham have made a 'firm offer' for Newcastle's on loan QPR striker Loic Remy, according to One World Sports' journalist Duncan Castles. SEE ALSO: The Top Ten Possible Replacements for Tim Sherwood at Tottenham. The France international has a ...
 
Telecompaper (subscription)
Wed, 09 Apr 2014 02:10:42 -0700

Telefonica Slovakia prepared a new offer for business customers, reports eTrend.sk. It is based on the older offer O2 My Firm with several changes. About 80 percent of SME clients use O2 My Firm, introduced in 2010. The offer was with a two-year ...
 
CAPA - Centre for Aviation
Mon, 31 Mar 2014 01:17:31 -0700

Air France-KLM stated (28-Mar-2014) that on 28-Mar-2014, Air France accepted the firm offer received in Dec-2013 from Intro Aviation GmbH to purchase CityJet and its VLM subsidiary. The closing of the transaction for the CityJet shares should take ...
 
Professional Planner
Wed, 23 Apr 2014 21:18:45 -0700

$50m raised, 25 per cent under General Offer & 75 per cent under the Broker Firm Offer). Zenith rates the PM Capital Asian Opportunities Fund Limited APPROVED. Zenith's View PM is a Sydney-based funds management boutique established in 1998 ...

Goal India

Goal India
Thu, 24 Apr 2014 04:15:00 -0700

Clarence Seedorf's side are capable of frustrating the hosts for long spells and, with that in mind, the 13/10 (2.30) quote from bet365 for the first-half to end level may be worthy of support here while the same firm offer even money (2.0) that the ...
Loading

Oops, we seem to be having trouble contacting Twitter

Talk About Firm offer

You can talk about Firm offer with people all over the world in our discussions.

Support Wikipedia

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