Mayra offers to sell her home to Hanna for "about $100,000 plus closing costs." Hanna accepts Mayra's offer.Later,a dispute arises over the precise dollar amount of the purchase price.How will a court most likely resolve this dispute?

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In this case, the court would most likely declare the purchase price and terms too indefinite to create a binding contract. Under the common law of contracts, contractual terms must be definite and specific. An offer to purchase a house at a "reasonable price" cannot be the basis for a contract because of indefiniteness. Under the Uniform Commercial Code, contracts for the sale of goods can leave open nonquantity terms to be decided at a future time. Note that this rule applies only to sales of goods. It does not apply to sales of real estate or services.

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