Firm Offer

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Firm Offer

A definite and binding proposal, in writing, to enter into a contractual agreement.

A firm offer generally states that it will remain open for a certain set time period during which it is incapable of being revoked.

Firm offers are frequently made by merchants who wish to buy or sell goods and are governed by the Uniform Commercial Code.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

firm offer

n. in contract law, an offer (usually in writing) which states it may not be withdrawn, revoked or amended for a specific period of time. If the offer is accepted without a change during that period, there is a firm, enforceable contract. (See: contract, offer, acceptance)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
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The QPR boss said: "If a club wants him and comes in and make firm offers and if the owners think it is the right offer then he will go.
If you have met the Conditional Firm offer, but in the meantime have had a change of heart and would prefer to go to the insurance offer university, then you need to ask to be released from your firm offer.
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Brightside agreed once on 13 August to extend the offer period in order to allow Markerstudy more time to make a firm offer, but after the latest developments it said it will not agree to a new extension.Country: UKSector: Insurance, Wholesale/RetailTarget: Brightside Group plcBuyer: Markerstudy Holdings LimitedType: Corporate acquisitionStatus: Bidding
France-based Credit Mutual has made a firm offer for the German banking unit of Citigroup, Inc (NYSE: C).
``But if a firm offer has been made then it is more than likely that we are out of the game.''
17 July 2013 - UK insurance broker Markerstudy Holdings Limited confirmed it had made an initial proposal to buy domestic peer Brightside Group plc (LON:BRT), but it would decide whether to make a firm offer after due diligence.