Use app×
Join Bloom Tuition
One on One Online Tuition
JEE MAIN 2025 Foundation Course
NEET 2025 Foundation Course
CLASS 12 FOUNDATION COURSE
CLASS 10 FOUNDATION COURSE
CLASS 9 FOUNDATION COURSE
CLASS 8 FOUNDATION COURSE
+1 vote
1.6k views
in Commercial Mathematics by (20 points)
X agrees to sell his 100 bags of wheat to y at price to be fixed bye z. But z valid to fix price. Is it valid contract explain

Please log in or register to answer this question.

1 Answer

0 votes
by (46.3k points)

The answer of the question depends upon what authority 'Z' holds. To be a qualified personnel to decide price of a product manufactured by some other party is very essential.

Since 'X' is producing the wheat, he is well acquainted with the knowledge of how much investment he has done in terms of labor, infrastructure or raw materials, he holds complete right over his products and it should be he who shall decide the price of the product.

But suppose 'X' does not has any reach to customers or markets, he may use service of a third party for marketing of product. In this case, 'Z' can play a role and earn a share in the profit made by 'X'. If 'Z' is a government authority, he may use his right to decide the price of commodity keeping in mind the income that 'X' must generate for his product.

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...