Which of the Following Does NOT Result in an Open

question 61

Multiple Choice

Which of the following does NOT result in an open price term contract?

• A) It says nothing as to price.
• B) It provides that the parties shall agree later as to the price and they fail to so agree.
• C) It fixes the price in terms of some agreed market or other standard, as set by a third person or agency, and the price is not so set.
• D) It specifies the price in a foreign currency with a fluctuating exchange rate.

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Definitions:

Active Tectonics

The study of structural features within the Earth's crust and their movements, which are caused by the seismic and volcanic activity related to the movement of tectonic plates.

Volcanism

The geological process involving the eruption of molten rock, or magma, from below Earth's surface.

Inner Planets

The four planets closest to the Sun (Mercury, Venus, Earth, and Mars); synonym: terrestrial planets.

Outer Planets

Refers to the planets in the solar system that are located beyond the asteroid belt, including Jupiter, Saturn, Uranus, and Neptune.