A and B signed a contract according to which A will develop a system for B. The contract states the details of the system to be developed, the acceptance criteria, and the delivery schedule. It does, however, not state the amount to be paid by B. (a) Is the contract valid or not, and (b) why?

Purchasing and Supply Chain Management
6th Edition
ISBN:9781285869681
Author:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
Publisher:Robert M. Monczka, Robert B. Handfield, Larry C. Giunipero, James L. Patterson
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A and B signed a contract according to which A will develop a system for B. The contract states the details of the system to be developed, the acceptance criteria, and the delivery schedule. It does, however, not state the amount to be paid by B. (a) Is the contract valid or not, and (b) why?

 

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