Official Code of Georgia Annotated

Title 11. COMMERCIAL CODE · Chapter 2A. · Article 2A. LEASES · Part 2. FORMATION AND CONSTRUCTION OF LEASE CONTRACT

11-2A-205. Firm offers.

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

An offer by a merchant to lease goods to or from another person in a signed record 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.

The notes below are printed with the section but are not enacted law (O.C.G.A. § 1-1-1(c)). They are shown apart from the text.

History

Code 1981, § 11-2A-205, enacted by Ga. L. 1993, p. 633, § 1; Ga. L. 2024, p. 817, § 6-2/HB 1240, effective July 1, 2024.

Amendments

The 2024 amendment, effective July 1, 2024, substituted “record” for “writing” near the beginning of the first sentence.

Editor's notes

Ga. L. 2024, p. 817, § 1-1/HB 1240, not codified by the General Assembly, provides: “This Act shall be known and may be cited as the ‘Uniform Commercial Code Modernization Act of 2024.’” Ga. L. 2024, p. 817, § 1-2/HB 1240, not codified by the General Assembly, provides: “Nothing in this Act shall be construed to support, endorse, create, or implement a national digital currency.”

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Current through: Including Acts of the 2025 Regular Session of the General Assembly.

Text read from t11-(v9)-pdf.pdf, Volume V9, 2022 edition, 2025 supplement, page 33; merge action: replaced; file SHA-256 df9393c4ba3b.

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