8. Terms (Art 2) Flashcards
1
Q
How should the price be determined?
A
Price
NO price
1) No price/to be agreed/agreed by TP
2) Court determines reasonable price at time of delivery
2
Q
How should the place of delivery be determined?
A
Specified place => Seller’s home
NO specified place => Seller’s place of business
3
Q
How should the time of shipment/delivery be determined?
A
Specified time
NO specified time => Reasonable time
4
Q
How should time of payment be determined?
A
Expressly stated in contract
Impliedly stated in divisible contract (condition concurrent)
- Seller must deliver goods when Buyer pays
NOT stated in contract (condition precedent)
1) Seller must deliver goods
2) Buyer will pay after receipt
5
Q
Can missing quantity be determined by courts?
A
NO
- Must be originally included in contract
