The Uniform Commercial Code (UCC) has been adopted in whole or in part by the legislatures of all 50 states. In most instances, the UCC treats all buyers and sellers alike. In some cases, it treats merchants differently than it does the occasional or casual buyer or seller. The UCC recognizes that the merchant is experienced and has a special knowledge of the relevant commercial practices.
Contract law as to offers is applicable to a sales contract, with the following exception. A firm offer by a merchant cannot be revoked if the offer:
" expresses an intention that it will not be revoked,
" is in a writing, and
" is signed by the merchant.
Unless it is expressly specified that an offer to buy or sell goods must be accepted just as made, the offeree may accept an offer and at the same time propose an additional term. This is contrary to general contract law.
A Firm Offer for Sales Agreement, specific to Oklahoma, is a legally binding document that outlines the terms and conditions agreed upon between a seller and a buyer for the sale of goods or services. This agreement is crucial as it provides clarity and certainty to both parties involved in the transaction. The inclusion of a specification of the manner of acceptance further enhances the confidence and faith in the agreement. In Oklahoma, there are primarily two types of Firm Offer for Sales Agreements with different specifications for the manner of acceptance: 1. Written Firm Offer: This type of agreement is a written document that clearly states all the terms and conditions of the sale, such as the description of the goods or services being sold, the quantity, quality, price, delivery terms, payment terms, and any additional provisions agreed upon by the parties. The written firm offer requires a formal acceptance from the buyer, usually in writing, within a specified timeframe mentioned in the agreement. This ensures that both parties have a clear understanding and acceptance of the terms before proceeding with the transaction. 2. Oral Firm Offer: An oral firm offer, also known as an oral agreement, is a verbal agreement between the buyer and seller. This type of offer also includes the specification of the manner of acceptance, which is typically confirmed through an oral acceptance from the buyer. However, it is important to note that while oral agreements can be enforceable in Oklahoma, they can be more challenging to prove in case of any disputes or disagreements that may arise in the future. Therefore, it is advisable to have a written agreement to ensure clarity and avoid any potential misunderstandings. When drafting a Firm Offer for Sales Agreement in Oklahoma, it is crucial to include the essential elements such as: 1. Identification of the Parties: Clearly state the legal names and addresses of both the seller and buyer involved in the agreement. This ensures that there is no confusion regarding the parties involved in the transaction. 2. Description of Goods or Services: Provide a detailed description of the goods or services being sold, including their specifications, quantity, quality, and any other relevant details to avoid any ambiguity. 3. Price and Payment Terms: Specify the agreed-upon price for the goods or services and outline the payment terms, including due dates, installment details, or any special conditions agreed upon by the parties. 4. Delivery Terms: Clearly state the terms for delivery, including the place and method of delivery, any associated costs, and the timeframe in which the goods or services will be delivered. 5. Acceptance and Expiration Dates: Clearly mention the timeframe within which the buyer needs to accept the offer and the duration for which the offer remains valid. This provides a clear timeline for both parties and avoids any misunderstandings or late acceptances. 6. Dispute Resolution: It is crucial to include a provision for dispute resolution, which may include mediation, arbitration, or litigation, in case of any conflicts that may arise between the parties. Remember that consulting with an attorney experienced in Oklahoma contract law is highly recommended when preparing a Firm Offer for Sales Agreement. This ensures that the agreement complies with all relevant legal regulations, protects the rights and interests of both parties, and minimizes the potential for any future legal complications.A Firm Offer for Sales Agreement, specific to Oklahoma, is a legally binding document that outlines the terms and conditions agreed upon between a seller and a buyer for the sale of goods or services. This agreement is crucial as it provides clarity and certainty to both parties involved in the transaction. The inclusion of a specification of the manner of acceptance further enhances the confidence and faith in the agreement. In Oklahoma, there are primarily two types of Firm Offer for Sales Agreements with different specifications for the manner of acceptance: 1. Written Firm Offer: This type of agreement is a written document that clearly states all the terms and conditions of the sale, such as the description of the goods or services being sold, the quantity, quality, price, delivery terms, payment terms, and any additional provisions agreed upon by the parties. The written firm offer requires a formal acceptance from the buyer, usually in writing, within a specified timeframe mentioned in the agreement. This ensures that both parties have a clear understanding and acceptance of the terms before proceeding with the transaction. 2. Oral Firm Offer: An oral firm offer, also known as an oral agreement, is a verbal agreement between the buyer and seller. This type of offer also includes the specification of the manner of acceptance, which is typically confirmed through an oral acceptance from the buyer. However, it is important to note that while oral agreements can be enforceable in Oklahoma, they can be more challenging to prove in case of any disputes or disagreements that may arise in the future. Therefore, it is advisable to have a written agreement to ensure clarity and avoid any potential misunderstandings. When drafting a Firm Offer for Sales Agreement in Oklahoma, it is crucial to include the essential elements such as: 1. Identification of the Parties: Clearly state the legal names and addresses of both the seller and buyer involved in the agreement. This ensures that there is no confusion regarding the parties involved in the transaction. 2. Description of Goods or Services: Provide a detailed description of the goods or services being sold, including their specifications, quantity, quality, and any other relevant details to avoid any ambiguity. 3. Price and Payment Terms: Specify the agreed-upon price for the goods or services and outline the payment terms, including due dates, installment details, or any special conditions agreed upon by the parties. 4. Delivery Terms: Clearly state the terms for delivery, including the place and method of delivery, any associated costs, and the timeframe in which the goods or services will be delivered. 5. Acceptance and Expiration Dates: Clearly mention the timeframe within which the buyer needs to accept the offer and the duration for which the offer remains valid. This provides a clear timeline for both parties and avoids any misunderstandings or late acceptances. 6. Dispute Resolution: It is crucial to include a provision for dispute resolution, which may include mediation, arbitration, or litigation, in case of any conflicts that may arise between the parties. Remember that consulting with an attorney experienced in Oklahoma contract law is highly recommended when preparing a Firm Offer for Sales Agreement. This ensures that the agreement complies with all relevant legal regulations, protects the rights and interests of both parties, and minimizes the potential for any future legal complications.
