Section 1310.12 | Firm offers - UCC 2A-205.
Effective:
October 6, 2026
Latest Legislation:
House Bill 195 - 136th General Assembly
Firm offers [UCC 2A-205]
An offer by a merchant to lease goods to or from another person in a signed record 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 shall be separately signed by the offeror.
Last updated July 20, 2026 at 4:10 PM
Available Versions of this Section
- November 6, 1992 – House Bill 693 - 119th General Assembly [ View November 6, 1992 Version ]
- October 6, 2026 – Amended by House Bill 195 - 136th General Assembly [ View October 6, 2026 Version ]