Article 2 Gap-Fillers
Learn about the rules that apply if the contract does not supply a price, quantity, delivery, or payment term.
Under Article 2, agreements can be enforceable even if important terms are missing or were never discussed. Indeed, if the contract doesn’t address the relevant term, Article 2’s gap-filler provisions step in to supply the missing term.
In this lesson, we’ll discuss some of the most prominent and important gap-fillers.
I. Price Term
Imagine a winery entered into an agreement with a merchant, under which the merchant agreed to purchase from the winery as much wine as the merchant needed every...