A Contract Has an Open Price Term If the Agreement

question 1

Multiple Choice

A contract has an open price term if the agreement:

• A) says nothing as to price.
• B) provides that the parties shall agree later as to the price and they fail to so agree.
• C) 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) All of these.
• E) None of these.

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