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Terms of the uniform commercial code

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You advertise your antique desk for sale in the local newspaper. This is a piece of personal property and you are not in the business of selling furniture. A well-dressed gentleman appears at your door two days later and advises you that he wishes to make a 10 day (time period) irrevocable offer of $300 for the desk. What should you do in order to be assured that his offer is not revoked?

  • Without him giving you any consideration, have him state in writing that his offer to purchase for $300 is irrevocable.
  • Have him pay you consideration for not selling to any others for the time period in exchange for his agreement to pay you $300 for the desk.
  • Inform him that you are a merchant under the terms of the Uniform Commercial Code.
  • Tell him you will reduce the price to $250

The highlighted answer is the one I selected and it was wrong.

Reference no: EM132344926

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