Radiant Phone Company and Precision Works,Inc.(PWI),enter into a contract for the sale of a certain quantity of cell-phone parts,with PWI to determine the price.The price must be fixed according to
A)the concept of good faith.
B)the principle of fair trade.
C)the predominant-factor test.
D)the doctrine of unconscionability.

Question

Quizplus · Accepted Answer

The price must be fixed according to the concept of good faith, which requires honesty and fairness in determining the price in a contract where one party has the discretion to set the price.