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.
S.D. Codified Laws § 57A-2A-205
Firm offers
Known as the Uniform Commercial Code
The act spans §§ 57A-1-101 to 57A-9-809 (574 sections).
Source: SL 1989, ch 419, § 1; SL 2024, ch 198, § 19.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.