California · Commercial Code

COM §10205: 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 s

What this law says, in plain English

A merchant's written offer to lease goods cannot be revoked due to lack of consideration if the offer states it will remain open for a specified time.

Read the full statutory 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.

Verify at the official source: California legislative text

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