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.
Ala. Code § 7-2A-205
Firm Offers.
Known as the Uniform Commercial Code
The act spans §§ 7-10-101 to 7-9A-809 (703 sections).
(Acts 1992, 2nd Ex
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.