Title 8.2A. Commercial Code—Leases
Part 2. Formation and Construction of Lease Contract
This section has more than one version with varying effective dates. Scroll down to see all versions.
§ 8.2A-205. (Effective until July 1, 2025) Firm offers.
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.
1991, c. 536.
§ 8.2a-205. (Effective July 1, 2025) Firm offers.
An offer by a merchant to lease goods to or from another person in a signed record 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.
1991, c. 536; 2024, c. 652.
