Quimbee logo
DMCA.com Protection Status

Open-Price-Term Contract

Open-Price-Term Contract

Definition

A contract for sale in which nothing is said as to price, the price is to be agreed later by the parties, the price is to be fixed by a market standard or by a third party, or the price is to be fixed in good faith by the seller or buyer.

Get full access FREE

With a 7-Day free trial membership
Here's why 602,000 law students have relied on our key terms:
  • A complete online legal dictionary of law terms and legal definitions
  • Over 6,700 key terms written in plain English to help you not only understand the law but master it
  • The premier online law dictionary built specifically for law students
  • Easy access in class or on the go, accessible both online and through the Quimbee mobile app
  • Reliable - written by legal professors and practitioners
  • Get instant access to all related rules of law to any specific key term with a Quimbee Study Aid plan

Get full access FREE

With a 7-Day free trial membership