Ariz. Rev. Stat. » Title 47
Arizona Revised Statutes

Ariz. Rev. Stat. § 47-2305 (2026)

Open price term

✓ current as of May 2026
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A. 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:

1. Nothing is said as to price; or

2. The price is left to be agreed by the parties and they fail to agree; or

3. 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.

B. A price to be fixed by the seller or by the buyer means a price for him to fix in good faith.

C. 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 option treat the contract as cancelled or himself fix a reasonable price.

D. 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.

Notes of Decisions
Cited in 4 cases (2 in the last 5 years), 2017–2021 · leading case: Two Bros. Distrib. Inc. v. Valero Mktg. & Supply Co., 270 F. Supp. 3d 1112 (D. Ariz. 2017).
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Two Bros. Distrib. Inc. v. Valero Mktg. & Supply Co., 270 F. Supp. 3d 1112 (D. Ariz. 2017). · cites it 22× “context of open price terms: • [The UCC provision]- dealing with the situation where the price is to be fixed by one party rejects the uncommercial idea that an agreement that the seller may fix the price means that he may fix any price he may wish by the express qualification…”
Armored Repub. LLC v. Diamond Age Corp. (D. Ariz. 2021). · cites it 2× “20 Under A.R.S. § 47-2305, if parties intend to be bound but fail to fix a price, an agreement 21 is enforceable, and the price is a “reasonable value at the time of delivery.”
McKesson Med.-Surgical Inc. v. Custom Glass & Synthetic Design LLC (D. Ariz. 2021). · cites it 2× “’”) (citations omitted); A.R.S. § 47-2305(A) (“The parties if they so 1 intend can conclude a contract for sale even though the price is not settled.”
Two Bros. Distrib., Inc. v. Valero Mktg. & Supply Co. (9th Cir. 2019). “See Ariz. Rev. Stat. Ann. § 47-2305 (B). Under Official Comment 3 to U.”
— Ariz. Rev. Stat. § 47-2305(A) — 2 cases
Two Bros. Distrib. Inc. v. Valero Mktg. & Supply Co., 270 F. Supp. 3d 1112 (D. Ariz. 2017). “context of open price terms: • [The UCC provision]- dealing with the situation where the price is to be fixed by one party rejects the uncommercial idea that an agreement that the seller may fix the price means that he may fix any price he may wish by the express qualification…”
McKesson Med.-Surgical Inc. v. Custom Glass & Synthetic Design LLC (D. Ariz. 2021). “’”) (citations omitted); A.R.S. § 47-2305(A) (“The parties if they so 1 intend can conclude a contract for sale even though the price is not settled.”
— Ariz. Rev. Stat. § 47-2305(B) — 1 case
Two Bros. Distrib. Inc. v. Valero Mktg. & Supply Co., 270 F. Supp. 3d 1112 (D. Ariz. 2017). “context of open price terms: • [The UCC provision]- dealing with the situation where the price is to be fixed by one party rejects the uncommercial idea that an agreement that the seller may fix the price means that he may fix any price he may wish by the express qualification…”
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