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Terms Used In Michigan Laws 440.2205

  • Signed: includes any symbol executed or adopted by a party with present intention to adopt or accept a writing. See Michigan Laws 440.1201
  • Term: means a portion of an agreement that relates to a particular matter. See Michigan Laws 440.1201
  • writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201
     An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or if no time is stated for a reasonable time, but in no event may such period of irrevocability exceed 3 months; but any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.