Under the Code, If the Parties Have Reached No Agreement

question 26

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.

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Definitions:

Buffet Restaurants

Restaurants that offer a variety of foods displayed on a buffet table, allowing customers to serve themselves a wide range of dishes for a fixed price.

Value Loss

The decrease in the worth or price of an asset or a commodity in the market over time.

Cash Gift-giving

The practice of giving money as a present to someone during special occasions or cultural events.

Noncash

Noncash pertains to transactions, rewards, or benefits that do not involve the direct exchange of money, such as stock options, services, or goods.