An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time; however, in no event may the period of irrevocability exceed three months. A term of assurance under this section on a form supplied by the offeree shall be separately signed by the offeror.
Section: Previous 45.12.201 45.12.202 45.12.203 45.12.204 45.12.205 45.12.206 45.12.207 45.12.208 45.12.209 45.12.210 45.12.211 45.12.212 45.12.213 45.12.214 45.12.215 NextLast modified: November 15, 2016