Multiple choice

Question 1 

UCC Section 2-205 provides that all firm offers are irrevocable for three months. 

TRUE

FALSE 

Question 2 

Sam's price quote written on his company's letterhead satisfies the UCC Section 2-205 requirement that a firm offer must be made in a signed writing. 

TRUE

FALSE 

Question 3 

By submitting a bid to Fred for the construction project, Bill accepted Sam's offer. 

TRUE 

FALSE

Question 4 

Revocation of a Firm Offer must be communicated in writing to the buyer. 

TRUE 

FALSE