When the Parties Agree to Pay the "Market Value" of an Item

question 58

True/False

When the parties agree to pay the "market value" of an item, or when some other objective method or formula for pricing a product at some time in the future is used, the consideration is calculable and is thus sufficiently specific to be binding.

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Definitions:

Mineral Oil

A clear, odorless oil derived from petroleum, used as a lubricant, moisturizer, or laxative in medical and cosmetic products.

Emollient

A substance, often a cream or lotion, used to soften or moisturize the skin.

Methicillin-Resistant Staphylococcus Aureus

A type of bacteria that is resistant to several antibiotics including methicillin, often causing hospital-acquired infections.

Pimples

Small, localized skin inflammations, often part of acne, resulting from the blockage of pores.