Offer-Open Terms

Offer-Open Terms

UCC 2-204: even if terms of are undetermined, a contract may still exist.

§ Open Terms: “Indefiniteness” is OK as long as the parties intended to make a contract and there is a reasonable basis for a court to grant a remedy.

Open Quantity: generally courts will not impose a quantity. UCC2-306.    Exceptions:

§ Requirements Contract: buyer agrees to purchase what the buyer needs or requires.

§ Output Contract: buyer agrees to buy all of seller’s production or output.