Omni Metals Company and Piecework Fabrication, Inc., enter into a contract under which Omni agrees to deliver a certain quantity of sheet metal to Piecework each month. The contract does not include a price term. In a suit between the parties over the price, a court will

A) determine a reasonable price.

B) impose the lowestmarket price.

C) impose the highest market price.

D) return the parties to the positions they held before the contract.

Question

Business

Guest

20 September, 03:37

Omni Metals Company and Piecework Fabrication, Inc., enter into a contract under which Omni agrees to deliver a certain quantity of sheet metal to Piecework each month. The contract does not include a price term. In a suit between the parties over the price, a court will

A) determine a reasonable price.

B) impose the lowestmarket price.

C) impose the highest market price.

D) return the parties to the positions they held before the contract.

+3

Answers (1)

Know the Answer?

Leticia Michael · Answer 1

Answer: (A) Determine a reasonable price

Explanation:

According to the given question, the Omni metals company and the piecework fabrication Inc., both deals with each other in which the Omni Metals organization provide the other company the various types of products such as Sheet metal.

In their contract, the price term does not included then the court will determining a reasonable price at the time of delivery the products.

A reasonable price is one of the type of price in which the various types of products and the services are supplied on the basis of fair or available price without compromising the quality of the products.

Therefore, Option (A) is correct answer.