Indiana § 26-1-2.1-205 Firm offers

Indiana Statutes

§ 26-1-2.1-205 — Firm offers

Indiana § 26-1-2.1-205

Title 26COMMERCIAL LAW

Art. 1UNIFORM COMMERCIAL CODE

Ch. 2.1Leases

This text of Indiana § 26-1-2.1-205 (Firm offers) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 26-1-2.1-205 (2026).

Text

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 (3) months. Any such term of assurance on a form supplied by the
offeree must be separately signed by the offeror.

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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 (3) months. Any such term of assurance on a form supplied by the
offeree must be separately signed by the offeror.