Mont. Code Ann. » TITLE 30. TRADE AND COMMERCE · CHAPTER 2. UNIFORM COMMERCIAL CODE SALES · Part 3. General Obligation and Construction of Contract
Montana Code Annotated

Mont. Code Ann. § 30-2-305 (2026)

Open Price Term

✓ current as of May 2026
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  1. MCA Contents
  2. TITLE 30
  3. CHAPTER 2
  4. Part 3
  5. 30-2-305 Open price term

TITLE 30. TRADE AND COMMERCE

CHAPTER 2. UNIFORM COMMERCIAL CODE SALES

Part 3. General Obligation and Construction of Contract

Open Price Term

30-2-305. 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 to be fixed 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 the party's option treat the contract as canceled or the party may 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: En. Sec. 2-305, Ch. 264, L. 1963; R.C.M. 1947, 87A-2-305; amd. Sec. 840, Ch. 56, L. 2009.

Notes of Decisions
Cited in 1 case, 2000–2000 · leading case: Conagra, Inc. v. Nierenberg, 2000 MT 213 (Mont. 2000).
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Conagra, Inc. v. Nierenberg, 2000 MT 213 (Mont. 2000). · cites it 2× “Accordingly, a sales contract can be formed even though there is no agreement on the price, § 30-2-305, MCA, on the delivery terms, §§ 30-2-307, 308 and 309, MCA, and when payment is due, § 30-2-310, MCA.”
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