An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance 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, but in no event may the period of irrevocability exceed three months. Any such term of assurance on a form supplied by the offeree must be separately signed by the offeror. (1993, c. 463, s. 1.)
Sections: Previous 25-2A-107 25-2A-108 25-2A-109 25-2A-201 25-2A-202 25-2A-203 25-2A-204 25-2A-205 25-2A-206 25-2A-208 25-2A-209 25-2A-210 25-2A-211 25-2A-212 25-2A-213 Next
Last modified: March 23, 2014