Michigan § 440.2855 - Firm offer; assurances to hold offer open.
Full text of Michigan Michigan Compiled Laws § 440.2855 — Firm offer; assurances to hold offer open., with citation guidance and answers to common questions.
§ 440.2855. Firm offer; assurances to hold offer open.
An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time, but in no event may the period of irrevocability exceed 3 months. Any such term of assurance on a form supplied by the offeree must be separately signed by the offeror.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 440.2855
What does Michigan Compiled Laws § 440.2855 cover?
Section 440.2855 ("Firm offer; assurances to hold offer open.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 440.2855?
A common citation format is "Michigan Compiled Laws § 440.2855" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 440.2855 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.