An offer that is firm and states that it may not be withdrawn or revoked for a stated period of time. Usually refers to an offer made in writing. Such is an enforceable contract (such as an option contract.)
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TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.
An offer that is firm and states that it may not be withdrawn or revoked for a stated period of time. Usually refers to an offer made in writing. Such is an enforceable contract (such as an option contract.)