Hannah Has Agreed to Buy Greg's Car,but the Two Have

question 56

Multiple Choice

Hannah has agreed to buy Greg's car,but the two have not agreed on the price.When there is no agreement in a sales contract as to price,what effect does it have on the contract?

• A) There is a contract,with the price being whatever Greg decides.
• B) There is a contract,with the price being a reasonable price at the time the agreement was made.
• C) There is no contract,because the agreement is not definite and certain enough.
• D) There is a contract,with the price being a reasonable price at the time of delivery.

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Definitions:

Motivation System

A framework within an organization designed to stimulate and encourage employees to achieve goals and improve performance.

Profit Sharing

A compensation strategy where employees receive a share of the company's profits in addition to their regular salary.

Large Organizations

Refers to businesses or institutions with a wide scope of influence, often characterized by complex structures, significant employee numbers, and expansive operational capacities.

Scanlon Gain-sharing Program

A specific type of gain-sharing plan that focuses on employee involvement and participation to improve productivity and share the generated financial benefits.