Legal Question in Business Law in California

No. They are like gift certificates, which cannot expire. You can, however, attach an upgrade requirement to them after a certain date. Ski resorts do this with discount pre-paid lift tickets. They are good for the season at full value. If you don't use all that you bought, they are still good in subsequent seasons, but you have to pay the difference between what you paid and the then-current lift ticket price. That way you are not forfeiting the money you paid (which would violate the gift certificate/gift card laws), but the company is not on the hook to give you a 2025 lift ticket at the discounted 2011 price.