Which of the following does NOT result in an open price term contract?
A) It says nothing as to price.
B) It provides that the parties shall agree later as to the price and they fail to so agree.
C) It 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) It specifies the price in a foreign currency with a fluctuating exchange rate.

Question

Quizplus · Accepted Answer

Contracts with open price terms are generally considered valid under certain conditions, except when the price is specified in a foreign currency with a fluctuating exchange rate. This scenario does not result in an open price term because the price is actually specified, albeit in a currency whose value against the contract's governing currency may vary.

Which of the Following Does NOT Result in an Open