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    option contracts and firm offers under the UCC

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    If you were to sell a piece of property to someone but the person was not yet sure he or she wanted it, and you agreed in writing to keep the offer open for 1 year, could that person sue you if you sold the property to someone else who offered me more money before the year was up?

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    https://brainmass.com/law/contract-law/66950

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    It sounds as if you are referring to an option contract. An option contract is a promise made by an offeror that effectively limits the offeror's power to revoke. It specifies a fixed period within which the offeree must exercise the option and communicate acceptance to the offeror to avoid the lapse of the offer.
    If one party gives consideration to the other party, the offer cannot be revoked. So, in your example, if you were the offeror and the offeree had paid you a deposit or ...

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    This job explains option contracts and firm offers under the UCC.

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