Final answer:
Fastener Corp. may be able to revoke their offer if no separate consideration was provided by Renzo Box Co. and if the UCC's firm offer rule does not apply or Fastener is not a merchant.
Step-by-step explanation:
The issue presented is whether Fastener Corp. can revoke their offer to Renzo Box Co. despite stating that the offer would be irrevocable for ten days. Under contract law, an offer that includes a term indicating it will be irrevocable for a certain period creates an option contract if it is supported by consideration. This means that for the specified period, the offeror cannot revoke the offer. In the given scenario, no separate consideration was provided by Renzo to keep the offer open. However, courts might recognize a firm offer under the Uniform Commercial Code (UCC) if Fastener Corp. is considered a merchant, which does not necessarily require separate consideration to be binding for the stated period.
In cases where there is no consideration for the promise to keep the offer open, and if the UCC does not apply or Fastener Corp. is not a merchant, the offer would generally be revocable despite the stated ten-day period. Since Fastener Corp. claimed that there was 'no consideration,' this could imply that no separate consideration beyond the potential sale itself was provided to make the offer irrevocable as an option contract, though this does not necessarily mean Fastener can revoke the offer under the UCC.