Illinois Statutes
§ 2-205 — Firm offers
Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 2 - Sales
An offer by a merchant to buy or sell goods in a signed record which 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 3 months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
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Legislative History
(Source: P.A. 103-1036, eff. 1-1-25 .)
Nearby Sections
15
§ 2-101
Short title§ 2-102
§ 2-102§ 2-104
Definitions§ 2-105
§ 2-105§ 2-106
§ 2-106§ 2-203
Seals inoperative§ 2-204
Formation in general§ 2-205
Firm offers§ 2-208
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