Chas and Dodie sign a contract for a sale of goods.Chas is to set the price for the goods at the time of delivery,but on delivery,refuses to do so.Dody may only
A)fix a reasonable price.
B)fix a reasonable price or treat the contract as canceled.
C)treat the contract as canceled.
D)wait for Chas to set the price.

Question

Quizplus · Accepted Answer

Under the UCC (Uniform Commercial Code), if a price is not set in the contract, the buyer may fix a reasonable price or treat the contract as canceled. Therefore, Dodie has the option to either fix a reasonable price or cancel the contract. Option A is not entirely correct, as it suggests that Dodie can only fix a reasonable price, which is not true as she may also choose to cancel the contract. Option C is also not entirely correct, as Dodie still has the option to fix a reasonable price. Option D is incorrect, as the seller has no obligation to set the price and the buyer cannot wait indefinitely for the price to be set.

Chas and Dodie Sign a Contract for a Sale of Goods.Chas