Principles 
Biblio 
Materials 
Links 
Discussions Trans-Lex Administrative Information Document-ID: 929000 [click here to copy citation to clipboard] Please Cite as: "http://www.trans-lex.org/929000". Social Networks
No. IV.6.2 - Subsequent fixing of contract priceIf the contract does not contain a provision fixing the price or a method for determining it, the parties are to be treated, in the absence of any indication to the contrary, as having agreed to the price generally charged at the time of the conclusion of the contract for such performance in comparable circumstances in the trade concerned, or, if no such price is available, to a reasonable price. Trans-Lex Commentary [open]Please click below for (full) text references [doctrine] [arbitral awards] [national legislation] [principles / restatements] [international legislation] [model laws]There are no Threads related to this document. Open one by yourself. |
Trans-Lex in Social Media: 
|
Please cite as: "Commentary to Trans-Lex Principle No. IV.6.2 - Subsequent fixing of contract price, http://www.trans-lex.org/929000"
1 The Principle is based on the assumption that a contract can be concluded between the parties even though the price for one party's performance has not yet been fixed.
2 If it is clear in such a scenario that the parties wanted to conclude the contract even absent the price stipulation, they are treated as having agreed to the price generally charged at the time of the conclusion of the contract for such performance in comparable circumstances in the trade concerned unless the circumstances indicate otherwise.
3 If the contract is unique or there are other reasons why no such market price is available, then the parties are treated as having agreed to a reasonable price.