2.205 – FIRM OFFERS. An offer by a merchant to buy or sell
Texas Business and Commerce Code § 2.205
Summary
This law establishes that a merchant's written offer to buy or sell goods can be irrevocable for a specified time or a reasonable period if no time is stated. It protects offerees by ensuring that offers remain open as promised, provided they meet certain requirements.
Merchant offers in writing can be irrevocable.
Irrevocability lasts for a stated time or up to three months.
Offer must be signed separately if on a form provided by the offeree.
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In simple terms: Learn about Texas's FIRM OFFERS. An offer by a merchant to buy or sell law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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