MI Bar Practice Questions - Michigan Bar Examination Exam

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A buyer makes an offer to purchase goods and states, 'This offer will remain open for 10 days.' The offeror is a merchant and the assurance is in a signed writing. Before the buyer relies, can the merchant revoke within the 10 days?

Yes, because all offers are freely revocable until accepted No, because under UCC § 2-205 a firm offer by a merchant in a signed writing is irrevocable for the stated time, up to three months, without consideration No, because every offer is automatically irrevocable for 10 days Yes, because firm offers require separate consideration to be binding

Correct Answer:

No, because under UCC § 2-205 a firm offer by a merchant in a signed writing is irrevocable for the stated time, up to three months, without consideration

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