irrevocable offer
irrevocable offer, defined:
an merchant's offer that carries with it an assurance that the offer will stand for a certain period of time. A(n) irrevocable offer is itself a contract. While detailing the exact legal details of a irrevocable offer is beyond the scope of this dictionary, a basic understanding of the term includes this: a irrevocable offer is by its nature an agreement; it applies to merchants, and it is regulated by statute under the Uniform Commercial Code (UCC).
irrevocable offer, as it might be used:
Before beginning submitting a bid to build the freeway exchange, the contractor secured a irrevocable offer for the concrete and iron rebar required.
irrevocable offer may also be referred to as:
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Clear-Point Law Dictionary
