The 2023 Florida Statutes (including Special Session C)

Title XXXIX
COMMERCIAL RELATIONS

Chapter 672
UNIFORM COMMERCIAL CODE: SALES

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F.S. 672.305

672.305 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 for 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 her or him 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 her or his option treat the contract as canceled or herself or himself 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.

History.—s. 1, ch. 65-254; s. 560, ch. 97-102.

Note.—s. 2-305, U.C.C.

F.S. 672.305 on Google Scholar

F.S. 672.305 on Casetext

Amendments to 672.305

Arrestable Offenses / Crimes under Fla. Stat. 672.305

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 672.305.

Annotations, Discussions, Cases:

Cases from cite.case.law:

IN RE MIAMI METALS I, INC., 603 B.R. 727 (Bankr. S.D.N.Y. 2019)

. . . . § 672.305(1) ; N.Y. U.C.C. § 2-305(1). . . . Ann. § 672.305(1) ; N.Y. U.C.C. § 2-305(1). . . .

S S PACKING, INC. v. SPRING LAKE RATITE RANCH, INC. d. b. a., 702 F. App'x 874 (11th Cir. 2017)

. . . . § 672.305(l)(c) (stating that parties can agree to be bound by a prevailing market price). . . .

GULF POWER COMPANY, v. COALSALES II, L. L. C. f k a, 661 F. Supp. 2d 1270 (N.D. Fla. 2009)

. . . . §§ 672.204(3), 672.305 (codifying U.C.C. §§ 2-204(3), 2-305); see also Shukla v. . . .

GIACALONE, v. HELEN ELLIS MEMORIAL HOSPITAL FOUNDATION, INC., 8 So. 3d 1232 (Fla. Dist. Ct. App. 2009)

. . . Ann. 218 (1993) (§ 672.305(2): “A price to be fixed by the seller or by the buyer means a price for him . . .

HOROWITCH, v. DIAMOND AIRCRAFT INDUSTRIES, INC., 526 F. Supp. 2d 1236 (M.D. Fla. 2007)

. . . . § 672.305(2), Fla. Stat. . . .

BARNES, v. DIAMOND AIRCRAFT INDUSTRIES, INC., 499 F. Supp. 2d 1311 (S.D. Fla. 2007)

. . . . § 672.305; UCC § 2-103(1)(b). . . .

UNITED FOOD MART, INC. d b a d b a v. MOTIVA ENTERPRISES, LLC,, 457 F. Supp. 2d 1329 (S.D. Fla. 2005)

. . . . § 672.305(2) (“A price to be fixed by the seller or by the buyer means a price for her or him to fix . . . Stat. § 672.305(2) ], dealing with the situation where the price is to be fixed by one party rejects . . . to a presumption that its posted DTW price satisfied the good faith requirement of Florida Statute § 672.305 . . . entitled to a presumption that its DTW prices were set in good faith, as required by Florida Statutes § 672.305 . . .

ACOSTA, v. DISTRICT BOARD OF TRUSTEES OF MIAMI- DADE COMMUNITY COLLEGE, Dr., 905 So. 2d 226 (Fla. Dist. Ct. App. 2005)

. . . Ann. 218 (1993)(§ 672.305(2): “A price to be fixed ... means a price ... to fix in good faith.”), cmt . . .

OFFICES TOGOLAIS DES PHOSPHATES, a TOGO, a v. MULBERRY PHOSPHATES, INC. a, 62 F. Supp. 2d 1316 (M.D. Fla. 1999)

. . . See Fla.Stat. § 672.305(l)(a); White & Summers, supra, § 3-8, at 149. . . . See Florida Code Comment to Fla.Stat. § 672.305. . . . Flat.Stat. § 672.305 is based upon section 2-305 of the Uniform Commercial Code. . . . . § 672.305 with Uniform Commercial Code (U.L.A.) § 2-305 (1989). . . . . Slat. § 672.305. . . .

L. SHUKLA, v. BP EXPLORATION OIL, INC. a. k. a. BP, 115 F.3d 849 (11th Cir. 1997)

. . . . § 672.305 (1993). . . .

E. PAYNE, v. HUMANA HOSPITAL ORANGE PARK, a, 661 So. 2d 1239 (Fla. Dist. Ct. App. 1995)

. . . is presumed by law to have been contemplated by the parties”); cf. 19A Fla.Stat.Ann. 218 (1993) (§ 672.305 . . .