Part II Formation of the Contract

The price

8 Ascertainment of price.

1

The price in a contract of sale may be fixed by the contract, or may be left to be fixed in a manner agreed by the contract, or may be determined by the course of dealing between the parties.

2

Where the price is not determined as mentioned in sub-section (1) above the buyer must pay a reasonable price.

3

What is a reasonable price is a question of fact dependent on the circumstances of each particular case.