Alaskan Seafood Enterprises Inc. ,a wholesaler of fresh fish,agrees with Red Lobster Inc.to sell 12 boxes of fresh-caught lobsters at 'market value.' The contract is unenforceable because the UCC requires a price for the goods.

Question

Quizplus · Accepted Answer

The statement is incorrect. While the UCC requires a price for the goods, the agreement between Alaskan Seafood Enterprises Inc. and Red Lobster Inc. could still be enforceable if the parties agree to determine the price in a reasonable manner, such as by referring to current market prices.