Question

12 multiple choice 1 point which of the following is true regarding an open price term? it makes the contract unenforceable. the price may be fixed by the seller. the price is thereasonable price at the time of delivery. the price is set by the buyer.

Explanation:

Under the Uniform Commercial Code (UCC), when a price term is left open in a contract for the sale of goods, the price is the 'reasonable' price at the time of delivery. A contract with an open price term is not unenforceable. Neither the seller nor the buyer unilaterally sets the price in the context of an open - price - term contract under the UCC.

Answer:

The price is the'reasonable' price at the time of delivery.