Gail offers to sell Belinda 1000 boxes of nails,but forgets to state the price.All other material terms are present,however.Belinda accepts,but later wants to back out of the deal,arguing that the offer is indefinite.Is there a contract here? Why or why not? Assume that at the time of the deal the parties intended to make a contract.Assume also that there was an established market price for the nails in question here.

We have a sale of goods,so Article 2 of the UCC applies.Under UCC section 2-204(3),an offer without a material term does not fail for indefiniteness if the parties intended to make a contract and there is a reasonably certain basis for giving an appropriate remedy.Here,intent to make a contract is assumed.Often,a reasonably certain basis for giving an appropriate remedy results from the existence of an established price for the goods in question,which was present here.In addition,UCC section 2-305 (which technically does not involve contract formation)could enable the court to plug in this price or one like it.