Question: Under the Uniform Commercial Code, a firm offer is: ( 1 ) A signed, written offer; ( 2 ) made by a merchant; ( 3

Under the Uniform Commercial Code, a
"firm offer" is:
(1) A signed, written offer; (2) made by a merchant; (3) to buy or sell goods; (4) that includes a guarantee that the offer will be held open for a specific amount of time.
(1) A written or verbal offer; (2) made by a merchant; (3) to buy or sell goods; (4) that includes a guarantee that the offer will be held open for a specific amount of time.
(1) A written offer; (2) made by any party; (3) to buy or sell goods; (4) that includes a guarantee that the offer will be held open for a specific amount of time.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

Q:

The Elbow Bend Hotel is located in Calgarys East Village and has 100 Rooms total. The breakdown of room types is as follows: 40 Deluxe Rooms, 50 Executive Rooms and 10 Suites. The Suites are always...

Q:

Please proofread this. Here is the prompt: Describe a time, when you (or someone you know) entered into a type of contract with someone, and you believe that a party breached the terms of the...

Q:

Provide detailed answers only! 1.Paul filed a lawsuit for false imprisonment against Dan's Bookstore. During a visit to Dan's Bookstore, Dan stopped Paul as he left the store. Dan accused Paul of...

Q:

1.Zehra is an employee of Claire. It is payday, but Claire does not have the money to pay Zehra right away, so she signs a simple statement that says: "I owe Zehra $500 for her work this week."...

Q:

Section I.TRUE/FALSE . ( Max. 20 Points ) For each of the following statements, indicate (with a "T" or "F") whether the statement is True or False.Each correct response is worth two (2) points....

Q:

FINAL EXAM Spring 2016 ASCM 627 INSTRUCTIONS - PLEASE READ THEM The first ten questions are true/false and are worth one point each. Questions 11 through 24 are worth 5 points each and you should be...

Q:

Titus-Will Ford Sales, Inc. appeals a judgment for replevin [repossession] of a 1990 Ford pickup truck that Titus-Will had previously sold to dealer/broker James Wilson. Upon consideration of the...

Q:

A Store posted advertisements around town that read: THIS SATURDAY ONLY - RIDING MOWERS STARTING AT $400! Buyer arrived at the Store early on Saturday, just as the Store was opening, and told the...

Q:

"Merchants" under the UCCGoldkist, Inc. v. Brownlee355 S.E.2d 773 (Ga. App. 1987)Beasley, J.The question is whether the two defendant farmers, who as a partnership both grew and sold their crops,...

Q:

In the situation you going to read bellow , if an additional term is objected to by the offeror merchant within a reasonable time after acceptance, what have the parties agreed toif anything? So...

Q:

There are 10 cases about Bussiness Law. Hope u can help me solve them. In addition, the answer to each question is not less than 70 words. Thx! Business Law Case Study 1. Pass took his single-engine...

Q:

The New York Times cost $0.15 in 1970 and $2.00 in 2009. The average wage in manufacturing was $3.23 per hour in 1970 and $20.42 in 2009. a. By what percentage did the price of a newspaper rise? b....

Q:

Find an example of the need for or use of transactions / concurrency control or recovery in the real world. This example might be taken from an online article - magazine, newspaper, blog post: A link...

Q:

Corporate bonds are a form of debt instrument through which companies raise capital by borrowing money from investors, promising to repay the principal with interest at a specified maturity date

Q:

A particle of mass m = 10Mev and charge is subjected to a one-dimensional potential 9 2 Mev ey(x) = 1-kx with k = 1 Study 2 fm the correction that energy levels undergo when the particle is subjected...