BBG 231 Lecture Notes - Lecture 27: Walks Plus Hits Per Inning Pitched, Uniform Commercial Code, Tunxis Community College
6 Jan 2021
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As a general rule, the offeror can revoke his offer at any time prior to its acceptance. Can be done in any reasonable manner than indicates that the offer is revoked. Firm offer under the uniform commercial code when a merchant promises in a signed writing to keep an offer open or a stated period of time, it may not be revoked. Does not need consideration as does an option. If no stated time is mentioned, it is a reasonable time not to exceed three months. A. a rejection by the offeree terminates the offer and con not be accepted thereafter, even though the offeree changes his mind. A counteroffer operates as a rejection and an offer. Death , in this case does not necessarily terminate the contract ( will discuss later: illegality, legislation or court decision making the subject matter of a contract illegal terminates an offer. If it is expressed, it may be oral or written.
