Vermont § 305 - § 2—305.
Full text of Vermont Vermont Statutes Online § 305 — § 2—305., with citation guidance and answers to common questions.
§ 305. § 2—305.
- Open price term (1) The parties if they so intend can conclude a contract for sale even though the price
is not settled. In such a case the price is a reasonable price at the time of delivery
if: (a) nothing is said as to price; or (b) the price is left to be agreed by the parties and they fail to agree; or (c) the price is to be fixed in terms of some agreed market or other standard as set or
recorded by a third person or agency and it is not so set or recorded. (2) A price to be fixed by the seller or by the buyer means a price for him or her to
fix in good faith. (3) When a price left to be fixed otherwise than by agreement of the parties fails to
be fixed through fault of one party the other may at his or her option treat the contract
as cancelled or himself or herself fix a reasonable price. (4) Where, however, the parties intend not to be bound unless the price be fixed or agreed
and it is not fixed or agreed there is no contract. In such a case the buyer must
return any goods already received or if unable so to do must pay their reasonable
value at the time of delivery and the seller must return any portion of the price
paid on account.
Frequently Asked Questions About Vermont § 305
What does Vermont Statutes Online § 305 cover?
Section 305 ("§ 2—305.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 305?
A common citation format is "Vermont Statutes Online § 305" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 305 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.