When an offer of sale does not specify a price, it is assumed that the parties intended ___________________. an implied contract

Question

Effectus [21]

4 years ago

11

When an offer of sale does not specify a price, it is assumed that the parties intended ___________________. an implied contract

not to enter a contract a reasonable price a minimal price

Business

1 answer:

Dovator [93] · Answer 1 · 2022-01-30T03:54:16+03:00

Answer:

The correct answer is letter "C": a reasonable price.

Explanation:

A reasonable price is set based on the value of the goods or services provided including other factors such as its availability, delivery time, quality, and payment terms. The term tends to be confused with the lowest price but both of them do not mean the same.

Thus, <em>if there is no specified price in an offer sale, both parties assume the goods will be sold at a reasonable price on the date of the delivery.</em>