Refined Metals Company and Superior Fabrication Inc. enter into a contract under which Refined agrees to deliver a certain quantity of sheet metal to Superior each month. The contract does not include a price term. In a suit between the parties over the price, a court will
A)determine a reasonable price.
B)impose the lowest market price.
C)impose the highest market price.
D)return the parties to the positions they held before the contract.

Question

Quizplus · Accepted Answer

Under the UCC (Uniform Commercial Code), if a contract is formed but does not include a price term, the court will determine a reasonable price at the time of delivery. This is to ensure fairness and uphold the validity of the contract despite the omission of specific terms.