A firm offer can be best defined as:
A)an offer that cannot revoked for a reasonable time if no time is stated.
B)an offer that becomes invalid if payment is not made to the offeror.
C)a written document which has a seal in place of the merchant's signature.
D)a verbal promise to hold an offer open.

Question

Quizplus · Accepted Answer

A firm offer occurs when an offeror promises to hold an offer open for a specified period of time or a reasonable time if no time is specified, during which it cannot be revoked. This is often applicable in the context of the Uniform Commercial Code (UCC) for merchants.

A Firm Offer Can Be Best Defined As