(1) Where one party accepts a contract note in which the commercial broker has not disclosed the identity of the other party, that party will be bound to the transaction with the other party, whose identity is disclosed to them subsequently, unless objections are to be raised, citing the reasons therefor, against the other party.
(2) The identity of the other party is to be disclosed within a time limit in accordance with local custom, or, in the absence thereof, within a time limit appropriate in light of the circumstances.
(3) If the identity is not disclosed or objections are to be raised, citing the reasons therefor, against the disclosed person or business name, then the party will be entitled to hold the commercial broker liable for performance of the transaction. Such claim will be precluded if the party does not, on request of the commercial broker, declare without undue delay whether it demands performance.