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2018 Indiana Code
TITLE 26. Commercial Law
ARTICLE 1. UNIFORM COMMERCIAL CODE
CHAPTER 2.1. Leases
26-1-2.1-205. Firm offers
Universal Citation: IN Code § 26-1-2.1-205 (2018)
IC 26-1-2.1-205 Firm offers
Sec. 205. An offer by a merchant to lease goods to or from another person in a signed writing 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 (3) months. Any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
As added by P.L.189-1991, SEC.3.
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