Idaho Bar Practice Questions - Idaho Bar Examination (NextGen UBE) Exam

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A merchant emails a signed offer to sell 500 units at a stated price, promising in the email to hold the offer open for 10 days. No consideration is given for the promise. Three days later, before any acceptance, the merchant attempts to revoke. Under UCC Article 2, is the revocation effective?

No, because a signed merchant's firm offer is irrevocable for the stated period up to three months Yes, because no consideration supported the promise to keep the offer open Yes, because firm offers must be in a record signed in ink, not by email No, because all offers between merchants are automatically irrevocable

Correct Answer:

No, because a signed merchant's firm offer is irrevocable for the stated period up to three months

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