IL Bar Practice Questions - Illinois Bar Examination Exam

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A merchant sends a signed written offer to a buyer promising to hold the offer open for 30 days. No consideration is given for the promise. Two weeks later, the merchant attempts to revoke. Can the merchant revoke?

Yes, because there was no consideration to support the promise No, because under the UCC firm-offer rule the offer is irrevocable for the stated period up to three months Yes, because firm offers must always be supported by consideration No, because all written offers are irrevocable

Correct Answer:

No, because under the UCC firm-offer rule the offer is irrevocable for the stated period up to three months

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