When the parties agree to pay the "market value" of an item,or when some other objective method or formula for pricing a product at some time in the future is used,the consideration is calculable and is thus sufficiently specific to be binding,thus overcoming the problem.

Question

Quizplus · Accepted Answer

When parties agree to pay the market value or use an objective method for pricing in the future, the consideration is specific enough to be binding. This is because the market value can be determined and does not rely on subjective opinions. Therefore, this statement is true.

When the Parties Agree to Pay the "Market Value" of an Item,or