Valuation-dependent sale agreements may be avoided if third-party valuation fails; buyer pays reasonable price if goods appropriated. An agreement to sell that conditions price on a third-party valuation is void if the valuation is not made; however, if the goods have been delivered and ... Summary
Valuation-dependent sale agreements may be avoided if third-party valuation fails; buyer pays reasonable price if goods appropriated.
An agreement to sell that conditions price on a third-party valuation is void if the valuation is not made; however, if the goods have been delivered and appropriated by the buyer the buyer must pay a reasonable price, and the party not at fault may claim damages if the valuation was prevented by the other party's fault.
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