Definition of Irrevocable offer:
Buy or sell offer that includes the offerors commitment to keep it open for a stated period. If the offer is withdrawn during this period, the offeror becomes liable for damages to the offeree for breach of contract. If no closing date is stated in the offer, a reasonable period (typically 90 days) is assumed in law.
Meaning of Irrevocable offer & Irrevocable offer Definition