Minnesota Statutes 336.2A-205 – Firm Offers
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An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance 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 the period of irrevocability exceed three months. Any term of assurance on a form supplied by the offeree must be separately signed by the offeror.
Terms Used In Minnesota Statutes 336.2A-205
- Goods: means all things that are movable at the time of identification to the lease contract, or are fixtures (section 336. See Minnesota Statutes 336.2A-103
- Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44