Examlex
Define the following terms: Great Schism
Invitation
An offer to deal or negotiate that indicates a willingness to enter into a contract under specified terms.
Firm Offer
An offer made in writing by a merchant guaranteeing to hold the offer open for a specified period of time without revocation.
UCC
The Uniform Commercial Code, a set of comprehensive statutes designed to unify and standardize sales and commercial transactions in all 50 states.
Counteroffer
A new offer made in response to an offer received, implying rejection of the original offer.
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