Which of the following is true of price terms in a contract?
A)A fixed price term is essential for a binding sales contract.
B)Price terms cannot be determined at a future date.
C)No contract is created if price terms are not agreed on.
D)A contract is void if price terms are omitted.

Question

Quizplus · Accepted Answer

A fixed price is not essential to the creation of a binding sales contract.However,if price has been the subject of a dispute between the parties that has never been resolved,no contract is created because a "meeting of the minds" never occurred.

Which of the Following Is True of Price Terms in a Contract