If a merchant signs a written offer to buy or sell goods, this will be irrevocable only if accompanied by consideration.

Question

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Under the Uniform Commercial Code (UCC), an offer to buy or sell goods is irrevocable if it is a signed, written offer by a merchant promising to keep the offer open, and it does not require consideration to be irrevocable for the time stated or a reasonable time, but not exceeding three months.

If a Merchant Signs a Written Offer to Buy or Sell