irrevocable offer
Definition
Buy or sell offer that includes the offeror's commitment to keep it open for a stated period. If the offer is withdrawn during this period, the offeror becomes liable for damages to the offeree for breach of contract. If no closing date is stated in the offer, a reasonable period (typically 90 days) is assumed in law.
Mentioned in these definitions
Popular 'Corporate, Commercial, & General Law' Terms
irrevocable offer in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/irrevocable-offer.html
