A Contract Has an Open Price Term If the Agreement

question 6

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 the above.
• E)None of the above.

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Definitions:

Decision Maker

An individual or group responsible for making choices or judgments.

GABA

Gamma-aminobutyric acid; a neurotransmitter in the brain that plays a key role in inhibiting nerve transmission, and hence, regulates anxiety.

Glutamate

A major neurotransmitter in the brain, playing a key role in learning, memory and the regulation of the nervous system.

Seizures

Abrupt, involuntary electrical activity in the brain leading to alterations in actions, movements, emotions, and awareness.