Ohio Revised Code (Last Updated: January 27, 2016) |
Title 13. XIII COMMERCIAL TRANSACTIONS - OHIO UNIFORM COMMERCIAL CODE |
Chapter 1302. SALES |
Section 1302.08. Firm offers - UCC 2-205
Latest version.
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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 months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
Effective Date: 07-01-1962