Pennsylvania § 2A205 Firm offers

Pennsylvania Statutes

§ 2A205 — Firm offers

Pennsylvania·Title 13 COMMERCIAL CODE·Ch. 2A2 FORMATION AND CONSTRUCTION OF LEASE CONTRACT

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

Pennsylvania § 2A205 (Firm offers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(July 1, 2024, P.L.450, No.41, eff. 60 days) 2024 Amendment.See section 1 of Act 41 in the appendix to this title for special provisions relating to findings and declarations.