When does the UCC assume a three-month irrevocability period?

A) Always.
B) Never.
C) If a firm offer is silent as to time.
D) Only if one of the parties is a nonmerchant.
E) Only if one of the parties lives in Louisiana who does not follow the common law.

Firm Offer

An offer made in writing and containing assurances that it will be irrevocable for a period of time not longer than three months despite a lack of consideration for the irrevocability.

Irrevocability Period

The timeframe during which a decision, offer, or agreement cannot be revoked or withdrawn.

UCC

Stands for the Uniform Commercial Code, a comprehensive set of laws governing all commercial transactions in the United States, intended to harmonize the law of sales and other commercial transactions across the country.