If a contract for a sale of goods omits a price term, a reasonable price for the goods can be determined by looking at the market for them.

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According to the Uniform Commercial Code (UCC), if a contract for the sale of goods does not include a price term, a reasonable price for the goods can be determined based on the market price at the time and place of delivery, or in the absence of a market price, based on comparable prices for similar goods. This is known as the "gap-filling" rule under UCC §2-305.

If a Contract for a Sale of Goods Omits a Price