SD Bar Practice Questions - South Dakota Bar Examination Exam

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Offeror sends Offeree a written offer to sell goods, stating: 'This offer will remain open for 30 days.' The offer is signed by Offeror, who is a merchant. No consideration is given. Five days later, Offeror revokes. Under UCC § 2-205, the revocation is:

Effective, because no consideration supports the promise to hold the offer open Ineffective, because the firm offer rule makes the offer irrevocable for the stated period, up to 3 months Effective only if Offeree has not yet relied on the offer Ineffective for the full 30 days regardless of merchant status

Correct Answer:

Ineffective, because the firm offer rule makes the offer irrevocable for the stated period, up to 3 months

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