Multiple choice

Where no price is fixed by express agreement or by implication, the buyer shall pay the seller.

  1. Resale price

  2. As hoc price

  3. Net realizable value

  4. Reasonable price

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

When no price is fixed by agreement or implication, the buyer must pay a reasonable price. This is determined based on market conditions, delivery timing, and transaction circumstances. 'Reasonable price' is the default legal rule for price determination in sale of goods.