A customer requested a price from a carpenter on a teak cabinet to be built according to the buyer's specifications. Because teak wood is difficult to obtain, the customer agreed to pay the cost of the wood plus $175 and the carpenter agreed to build it. Which of the following is correct?
A) Although the price is somewhat unclear, the parties have entered into a contract.
B) This is an agreement to agree, and is not binding.
C) This agreement fails for indefiniteness.
D) The carpenter is bound by the agreement, but not the customer.
A
You might also like to view...
Depreciation on factory equipment would be reported in the statement of cash flows prepared by the indirectmethod in
a. the cash flows from financing activities section b. the cash flows from investing activities section c. a separate schedule d. the cash flows from operating activities section
. What elements of car design did Tata change in order to produce their CVP?
a. product design b. manufacturing process c. service model d. all of these
Which factor is influencing individual behavior when an individual is faced with the choice of furthering his or her own interests rather than the interests of the organization?
a. organizational factors b. business environment c. profit and loss statements d. society e. personal moral philosophy
With a cost-oriented pricing strategy, a price setter stresses the ________ side of the pricing problem and the price is set by looking at ________.
A. cost; consumer tastes B. production and marketing; profit C. demand; revenue D. cost; production and marketing expenses E. demand; target sales