8.2-205 - Firm offers. - Virginia Statutes

§ 8.2-205. Firm offers.

An offer by a merchant to buy or sell goods in a signed writing which by itsterms gives assurance that it will be held open is not revocable, for lack ofconsideration, during the time stated or if no time is stated for areasonable time, but in no event may such period of irrevocability exceedthree months; but any such term of assurance on a form supplied by theofferee must be separately signed by the offeror.

(1964, c. 219.)