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.

3398 news items

 
Business Wire (press release)
Tue, 28 Jul 2015 05:11:15 -0700

BOSTON--(BUSINESS WIRE)--Wayfair (NYSE:W), one of the world's largest online destinations for home furnishings and décor, announced a partnership today with Mattress Firm, Inc., the primary operating subsidiary of Mattress Firm Holding Corp (Mattress ...

eProp.co.za

eProp.co.za
Thu, 16 Jul 2015 06:14:22 -0700

Fortress Income Fund is expected this week to make a firm offer to Capital Property Fund's shareholders to take over the fund after expressing an interest in a takeover since May. This would be the biggest property transaction of the year and the fund ...

International Business Times UK

International Business Times UK
Thu, 23 Jul 2015 05:00:00 -0700

Sony's smartphone division has announced that it will be branching out into the drone market by building unmanned aerial vehicles (UAV) for the enterprise market. Sony is teaming up with Tokyo-based Japanese robotics start-up ZMP to build the drones, ...

ETRealty.com

Inquirer.net
Tue, 04 Aug 2015 22:03:45 -0700

“We intend to use majority of our net proceeds from the firm offer to fund the development of our pipeline projects, purchase land assets through share acquisitions, develop infrastructure within Aseana City and for other corporate purposes,” the ...

Australasian Lawyer

Australasian Lawyer
Sun, 02 Aug 2015 16:48:45 -0700

Herbert Smith Freehills has advised mortgage lender Pepper on its $471m IPO and ASX listing. Pepper listed on the ASX on 31 July on a conditional and deferred settlement basis, the offer consisting of a broker firm offer, institutional offer, employee ...

Yahoo Finance UK

Dispatch Times
Thu, 30 Jul 2015 09:30:00 -0700

WPP is the world's biggest marketing holding group, which in Australia owns agencies including MEC, Mediacom, JWT, George Patterson Y&R and Mindshare, and already holds an approximate 18 per cent share in Chime Communications.

LeapRate

LeapRate
Wed, 29 Jul 2015 23:17:49 -0700

An interview with management of Mediatrix Capital Inc. a Bahamas based Forex managed account company. What does the boutique firm offer and have in store for the FX managed account industry? mediatriccpiatal. LeapRate conducted a Q & A with ...

Wall Street Journal

Wall Street Journal
Mon, 27 Jul 2015 23:12:38 -0700

Under U.K. takeover rules, Zurich now has 28 days to make a firm offer for RSA or refrain from bidding for at least six months. The disclosure of Zurich's interest in RSA comes amid speculation that the Swiss insurance giant would seek out potential ...
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