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2021 Tennessee Code
Title 47 - Commercial Instruments and Transactions
Chapter 2 - Sales
Part 2 - Form, Formation and Readjustment of Contract
§ 47-2-205. Firm Offers
Universal Citation: TN Code § 47-2-205 (2021)
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 (3) months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
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