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Jennings Offer To Sell The 1955 Thunderbird To Wheeler

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Jennings Offer To Sell The 1955 Thunderbird To Wheeler
In the case of Jennings’ offer to sell the 1955 Thunderbird to Wheeler, Jennings is in breach of contract. The offer Jennings provided to Wheeler was an irrevocable offer known as a firm offer. Firm offers, identified in UCC 2-205, must satisfy three requisites. First, a signed writing must assure that the offer will be held open for a specific period of time. Second, the offeror must be a merchant, a businessperson dealing in goods. Third, the transaction must involve the sale of goods. This situation satisfies all three requirements to be classified as a firm offer; therefore, the offer is irrevocable until the specified time period has lapsed. Since Wheeler tendered payment to Jennings prior to the offer end date, Wheeler will be able to
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