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Source Specific Performance Complete Contracts and UCC Article 2 List Matched to this deck.

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0 tracked cards Contracts

A merchant seller signed a letter offering to sell 10,000 pounds of copper wire and stating, "This offer will remain open for six months." The buyer gave no consideration for the promise to keep the offer open. Two months later, the seller attempted to revoke.
Which statement best describes the seller's power to revoke?

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The offer is irrevocable only if the buyer accepts by shipping goods. The offer is irrevocable only if the buyer is also a merchant. The signed merchant offer is irrevocable for the stated time, but Article 2 firm-offer protection cannot exceed three months without consideration. The offer is revocable immediately because consideration is always required to hold an offer open.

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