Karen Has Agreed to Buy Sara's Car, but the Two

question 64

Multiple Choice

Karen has agreed to buy Sara's car, but the two have not agreed on the price.When there is no agreement as to price in a contract for a sale of goods, what effect does it have on the contract?

• A) The price is a reasonable price at the time of delivery.
• B) The price is whatever the seller decides.
• C) The price is a reasonable price at the time of making the contract.
• D) There is no contract, because the agreement is not definite and certain enough.

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Definitions:

Centralized

A system or organizational structure where decision-making and control are concentrated in a single point or at a high level.

Decentralized

Pertains to the distribution of functions, powers, people, or things away from a central location or authority.

Management Structure

The organizational framework that outlines the hierarchy of authority and responsibility within a company.

Organic

Often used to describe farming practices that avoid the use of synthetic fertilizers and pesticides, or organizations and systems that are flexible and adapt to changes naturally.