Which of the following offers are considered to be irrevocable for a given period?
A)Firm offers.
B)Option contracts.
C)A writing signed by a merchant offering to hold open an offer for the sale of goods for a stated period.
D)All of the above.

Question

Quizplus · Accepted Answer

All three options - firm offers, option contracts, and merchant's written offer to hold open an offer for the sale of goods for a stated period - are considered irrevocable for a given period. A firm offer is an offer by a merchant to sell goods in writing and signed, which gives assurance that the offer will not be revoked for a specific time. An option contract is a contract where the option holder has the right, but not the obligation, to buy or sell an underlying asset at a predetermined price, and the option writer must hold it open for the stated period. A merchant's written offer to hold open an offer for the sale of goods is also irrevocable for the period stated in the offer.

Which of the Following Offers Are Considered to Be Irrevocable