Sales

ORS 72.2050
Firm offers


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. [1961 c.726 §72.2050 (Firm offers)]

Notes of Decisions

This section eliminates common law requirement of consideration for "firm offers" between merchants when offer provides that it is irrevocable for period of time. Taggart v. Douglas County, 31 Or App 1137, 572 P2d 1050 (1977), Sup Ct review denied

Chapter 72

Law Review Citations

53 OLR 468-473 (1974); 58 OLR 545 (1980)


Source

Last accessed
Jun. 26, 2021