An offer (by a merchant) that is irrevocable without the necessity of consideration for a stated period of time or - if no definite period is stated - for a reasonable time (neither period to exceed three months). A firm offer by a merchant must be i

🎲 Try a Random Question  |  Total Questions in Quiz: 446  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Business Law Fundamentals — practice the complete quiz, review flashcards, or try a random question.


1. An offer (by a merchant) that is irrevocable without the necessity of consideration for a stated period of time or - if no definite period is stated - for a reasonable time (neither period to exceed three months). A firm offer by a merchant must be i