How Are Sales Contracts Handled When Terms Are Missing

question 18

Multiple Choice

How are sales contracts handled when terms are missing?

• A)If a sales contract does not state the price of goods that will be sold to the buyer, the contract is considered invalid.
• B)If the price term is not expressly stated, it will be held to be the reasonable price for the same goods in the market.
• C)When a contract includes the supply of both services and goods, the contract is considered to be a contract for the sale of goods only if the terms expressly state it is subject to the UCC.
• D)If parties indicate that the price of goods must be fixed at a later date, and no price is thus fixed, the goods must be supplied at whatever price the seller sets.

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Definitions:

HDMI

High-Definition Multimedia Interface, a digital interface for transmitting audio and video data between devices without compression.

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A home entertainment setup designed to replicate the experience of a movie theater within a home, utilizing various audio-visual equipment like projectors, screens, and surround sound.

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USB 3.1

A version of the Universal Serial Bus standard for technology that offers significantly faster transfer rates than its predecessor, USB 3.0.