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Simple English definitions for legal terms

firm offer

Read a random definition: labor certification

A quick definition of firm offer:

A firm offer is a promise to sell something that cannot be changed or taken back. It is made when a seller who is a professional promises in writing to keep the offer open for a certain amount of time. This offer will only last for the time stated in the writing, or for a maximum of three months if no time is given.

A more thorough explanation:

Definition: A firm offer is a type of offer that cannot be revoked or withdrawn under Article 2 of the Uniform Commercial Code. In a sale of goods, if the seller is a merchant and promises in writing to keep an offer open, a firm offer is created. This offer will only last for the period of time stated in the offer. If no time period is stated, the offer will stay open for a maximum of three months.

Example 1: A car dealership promises in writing to keep an offer to sell a car to a customer open for two weeks. This is a firm offer, and the dealership cannot revoke or withdraw the offer during that two-week period.

Example 2: A clothing manufacturer sends a written offer to a retailer to purchase a certain amount of clothing at a specific price. The offer states that it will remain open for one month. This is a firm offer, and the retailer can accept the offer at any time during that one-month period.

These examples illustrate how a firm offer works in a commercial transaction. Once a firm offer is made, the offeror cannot change their mind and revoke the offer. This provides certainty and stability for the offeree, who can rely on the offer being available for a certain period of time.

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cumsock
13:00
careful! i graduated from reddit university
13:00
@texaslawhopefully: another day another missed wave??
lilypadfrog
13:01
what if I started using redditisms
lilypadfrog
13:01
thank you kind stranger for the gold
Trismegistus
13:01
do all my hopes and dreams and sanity rest on chicago now
texaslawhopefully
13:01
@sadpadresfan: prolly. My only hope is my last name is towards the end of the alphabet
lilypadfrog
13:01
i hope u guys would put me down like a dog that bit a baby
Trismegistus
13:02
@texaslawhopefully: i saw 3/4 down alphabet then 30- mins later 1/2 down alphabet
texaslawhopefully
13:02
so they're still calling?
Trismegistus
13:03
that i dont know
KeenHeartbreakingRattlesnake
13:03
the Penn e wave is about to cook me
atwatodbit
13:03
@sadpadresfan: did you get your Cornell scholly with your A at the same time? I think they gave me nothing...
lilypadfrog
13:04
tex also got cornell scholly ask him
texaslawhopefully
13:04
there's a form you fill out
texaslawhopefully
13:04
and they'll get back to you within a few days
13:04
@atwatodbit: they emailed me a day after submitting the form
atwatodbit
13:05
ah ok, i've seen that, just need to get parental info then. just making sure
13:05
Feeling fortunate and its my top choice as of now haha
lilypadfrog
13:06
what if you fill this out and you haven’t been admitted? just a next level move? they probably have to let you in then
PerpetualCheerfulBeaver
13:06
I applied to all my places in late september and am still waiting to hear back. ive missed all three types of waves (WL,R,A) am i screwed??
texaslawhopefully
13:07
Your guess is as good as mine. I'm in the same boat for most schools
Trismegistus
13:07
begging chicago for an A
atwatodbit
13:08
the vast majority of the t14 has not hit 50% of their As, many have not even hit 25%. zero reason for panic
PerpetualCheerfulBeaver
13:08
Thank you texas!
choosingpeace
13:08
missing CLS and Penn waves im so screwed
choosingpeace
13:08
i applied early too i hate everything im crashing out im crashing OUT
PerpetualCheerfulBeaver
13:08
I literally have no experience in this type of stuff, but if i get waitlisted, should i send an email about continued interest?
lilypadfrog
13:09
im so nonchalant
lilypadfrog
13:09
i will probably hear something back eventually
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