WY Bar Practice Questions - Wyoming Bar Examination Exam

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A merchant sends a signed writing to a buyer offering to sell goods and promising to hold the offer open for 60 days. No consideration is paid for this promise. Under UCC Article 2, for how long is the offer irrevocable?

For exactly three months regardless of the stated period For a reasonable time not exceeding three months even though a period was stated For the full 60 days stated, because it cannot exceed three months and 60 days is within that limit It is not irrevocable at all because no consideration was paid

Correct Answer:

For the full 60 days stated, because it cannot exceed three months and 60 days is within that limit

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