When does the UCC assume a three-month irrevocability period?
A) Always.
B) Never.
C) If a firm offer is silent as to time.
D) Only if one of the parties is a nonmerchant.
E) Only if one of the parties lives in Louisiana who does not follow the common law.

Question

Quizplus · Accepted Answer

The Uniform Commercial Code (UCC) assumes a three-month irrevocability period for a firm offer if the offer is silent as to time. This provision applies under UCC 2-205, which deals with firm offers made by merchants.

When Does the UCC Assume a Three-Month Irrevocability Period