                                 CODE OF VIRGINIA

FIRM OFFERS (§ 8.2-205)

An offer by a merchant to buy or sell goods in a signed record 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 three months; but
any such term of assurance on a form supplied by the offeree must be separately
signed by the offeror.

HISTORY: 1964, c. 219; 2024, c. 652.