David and George have a contract wherein George agrees to buy sporting goods and equipment....
80.2K
Verified Solution
Link Copied!
Question
Accounting
David and George have a contract wherein George agrees to buy sporting goods and equipment. Since the goods are not to be delivered for several months, they left the price open. Under the UCC, which of the following will be true? The price will be the reasonable price based on the market value of the goods at the time of delivery or a price established by a neutral party or agency. David has the freedom to set any price he wants considering George was foolish enough to enter into a contract without a price established. George has the right to establish a price because, he is the buyer. David should have taken steps to protect his sales interest. None of the above. The contract is not valid because the terms are not definite and certain. 
David and George have a contract wherein George agrees to buy sporting goods and equipment. Since the goods are not to be delivered for several months, they left the price open. Under the UCC, which of the following will be true?
The price will be the reasonable price based on the market value of the goods at the time of delivery or a price established by a neutral party or agency.
David has the freedom to set any price he wants considering George was foolish enough to enter into a contract without a price established.
George has the right to establish a price because, he is the buyer. David should have taken steps to protect his sales interest.
None of the above. The contract is not valid because the terms are not definite and certain.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.