Indiana § 26-1-2-205 Firm offers

Indiana Statutes

§ 26-1-2-205 — Firm offers

Indiana·Title 26 COMMERCIAL LAW·Art. 1 UNIFORM COMMERCIAL CODE·Ch. 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 three (3) months; but any such
term of assurance on a form supplied by the offeree must be separately
signed by the offeror.
Formerly: Acts 1963, c.317, s.2-205. As amended by
P.L.199-2023, SEC.8.

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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 three (3) months; but any such
term of assurance on a form supplied by the offeree must be separately
signed by the offeror.
Formerly: Acts 1963, c.317, s.2-205. As amended by
P.L.199-2023, SEC.8.

Indiana § 26-1-2-205 (Firm offers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.