Under the UCC,when Parties to a Sales Contract Omit a Price

question 48

True/False

Under the UCC,when parties to a sales contract omit a price term,the contract is void because there is no "meeting of the minds."

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Definitions:

Usage Rate

The frequency with which consumers use a product, often used to segment markets or tailor marketing strategies.

Psychographics

The study and classification of people according to their attitudes, aspirations, and other psychological criteria, especially in market research.

Psychographic Segmentation

The process of dividing a market into segments based on consumer personalities, values, attitudes, interests, or lifestyles.

U.S. Census Bureau

A principal agency of the U.S. Federal Statistical System responsible for producing data about the American people and economy.