The ________ states that a merchant who offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open cannot revoke the offer for the time stated or, if no time is stated, for a reasonable time.

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The firm offer rule, also known as the "Merchant's Firm Offer," states that if a merchant offers to buy, sell, or lease goods and gives a written and signed assurance on a separate form that the offer will be held open, they cannot revoke the offer for the time stated, or if no time is stated, for a reasonable time. This rule is found in the Uniform Commercial Code (UCC) Section 2-205.

The ________ States That a Merchant Who Offers to Buy