A written offer from a merchant to buy or sell goods will be irrevocable only if accompanied by consideration.

Question

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Under the Uniform Commercial Code (UCC), a written offer by a merchant to buy or sell goods can be irrevocable without consideration if it is a signed, written promise to keep the offer open for a stated period of time or, if no time is stated, for a reasonable time, but in no event may such period of irrevocability exceed three months.

A Written Offer from a Merchant to Buy or Sell