Under the Code, If the Parties Have Reached No Agreement

question 34

True/False

Under the Code, if the parties have reached no agreement on price, the price is a reasonable one at the time of making the contract.

---

Definitions:

Inventory Turnover

A financial ratio indicating how many times a company has sold and replaced inventory over a period.

Days' Sales

A financial ratio that measures how efficiently a company uses its inventory by calculating the average number of days the company takes to sell its inventory.

Financial Ratios

Quantitative measures derived from financial statements used to assess a company's performance, financial health, and value.

Current Ratio

An indicator measuring a corporation's potential to handle its short-term financial obligations with assets on hand.