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Jun 23, 2009 · Open Price Term (UCC Offer) Definition If the parties intended to form a contract but didn't set a price, the price will be the reasonable price at the time of delivery.
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Definition of delivery terms: The conditions in a sales or transportation contract that specify such things as the carrier, routing, freight charges, place of delivery, and time of delivery.
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open price term, open payment term, open delivery term Under the UCC, a contract that contains open terms will be: a. valid as long as the parties express "serious" interest in negotiating
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