California Commercial Code

§ 10205

COM § 10205 Effective Jan 1, 2024Div. 10 · Ch. 2

Statute text

An offer by a merchant to lease goods to or from another person in a signed record 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 such term of assurance on a form supplied by the offeree must be separately signed by the offeror.

Legislative history

Amended by Stats. 2023, Ch. 210, Sec. 79. (SB 95) Effective January 1, 2024.