CNMI Bar Practice Questions - Northern Mariana Islands Bar Examination Exam

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A merchant offers in a signed writing to keep an offer to sell goods open for two months, with no consideration paid by the offeree. Under UCC Article 2, how long is the offer irrevocable?

The offer is freely revocable because no consideration was given For a reasonable time not exceeding three months For the stated two months, because firm offers by merchants are irrevocable for the time stated For exactly thirty days regardless of the writing

Correct Answer:

For the stated two months, because firm offers by merchants are irrevocable for the time stated

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