Apply UCC Article 2 Sales Provisions Practice Test

The offer must be supported by consideration to be irrevocable for any period.

The offer must be made by a merchant, must be in a signed writing, and must give assurances that the offer will be held open, for a period not to exceed three months without consideration.

The offer must be made by any party, in writing or orally, and must state a specific price and quantity.

The offer must be made by a merchant and may be irrevocable for any period specified in the offer, even if it exceeds one year.