An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that 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 such period of irrevocability exceed three (3) months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
Miss. Code Ann. § 75-2-205
Firm offers
Known as the Uniform Commercial Code
The act spans §§ 75–75 (480 sections).
Applied in 2 court decisions — leading case 463 F. Supp. 543 - Ivey's Plumbing & Electric Co. v. Petrochem Maintenance, Inc. (1978)
Most recently applied in Enniss Family Realty I, LLC v. Schneider National Carriers, Inc. (January 2013)
Codes, 1942, § 41A:2-205; Laws, 1966, ch. 316, § 2-205, eff March 31, 1968.
Current official text: Mississippi Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Mississippi statutes; confirm against the official source for the current text. Not legal advice.