Which of the Following Is True of Open-Price-Term Contracts

question 53

Multiple Choice

Which of the following is true of open-price-term contracts?

• A) The contract is void due to the failure to specify a required term of the contract.
• B) The price becomes the reasonable price at the time the contract was entered into.
• C) The price becomes the reasonable price at the time the goods are delivered.
• D) The price is determined by the court's applying a reasonable price at whatever time the court deems appropriate to reach a fair result.

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