Examlex
Which of the following statements is FALSE?
Irrevocable Offer
A rule that no consideration is necessary when a merchant agrees in writing to hold an offer open for the sale of goods. Also called firm offer.
Reaffirmation
A legal agreement to continue paying a dischargeable debt after bankruptcy, often to retain collateral or maintain a relationship with the creditor.
Merchant
An individual or business that is involved in the wholesale or retail sale of goods.
Time Period
A specific interval of time marked by a start and end point, often used for purposes of study, assessment, or to denote durations.
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