Which of the Following Is TRUE Regarding an Open Price

question 12

Multiple Choice

Which of the following is TRUE regarding an open price term?

• A)It makes the contract unenforceable.
• B)The price may be fixed by the seller.
• C)The price is the "reasonable" price at the time of delivery.
• D)The price is set by the buyer.

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Definitions:

Proximity

The physical closeness between people, places, or objects, often influencing interactions and relationships.

Elaboration

The process of adding more information or detail to something, often to clarify or expand upon a concept.

Similarity

The state of being alike or sharing common features, which can influence attraction and group cohesion.

Complementarity

A principle in relationships and systems where different components or participants enhance or complete each other’s qualities or functions.