NC General Statutes

N.C. Gen. Stat. § 25-2-305 (2026)

Open price term

✓ current as of July 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. (1965, c. 700, s. 1; 2025-25, s. 112.)

Notes of Decisions

Cited in 6 cases, 1985–2020 · leading case: Neugent v. Beroth Oil Co., 560 S.E.2d 829 (N.C. Ct. App. 2002).

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Neugent v. Beroth Oil Co., 560 S.E.2d 829 (N.C. Ct. App. 2002). · cites it 6× “N.C. Gen. Stat. § 25-2-305 (1965) (emphasis supplied).”

Carolina Builders Corp. v. Howard-Veasey Homes, Inc., 324 S.E.2d 626 (N.C. Ct. App. 1985). · cites it 2× “G.S. 25-2-305(1). A price to be fixed by the seller means a price to be fixed in good faith.”

Sara Lee Corp. v. Quality Mfg., Inc., 201 F. Supp. 2d 608 (M.D.N.C. 2002). · cites it 2× “5 cents per minute, was unreasonable, citing to a section of North Carolina’s Uniform Commercial Code (UCC), which Sara Lee concedes does not apply, N.C. Gen. Stat. § 25-2-305 (West 2001). Sara Lee does not cite the section of the UCC which is directly on point, the section…”

Parker Marking Sys., Inc. v. Diagraph-Bradley Indus., Inc., 341 S.E.2d 92 (N.C. Ct. App. 1986). “The article provides special rules governing the rights of parties to contract for the sale of goods and covers contracts to sell goods in the future, G.”

Braswell Egg Co., Inc. v. Poultry Mgmt. Sys., Inc. (E.D.N.C. 2020). · cites it 2× “Third, Braswell and PMSI’s actual course of performance demonstrates that they did not intend for the price quote to govern the Command III and the Watchdog Timer’s installation.”

Bouffard v. Lab'y Corp. of Am. Holdings (M.D.N.C. 2019). “§ 25-2-305 )). Because the instant case involves the provision of services, not goods — as counsel for LabCorp acknowledged at the hearing — the cited provision is inapt.”

— N.C. Gen. Stat. § 25-2-305(1) — 1 case

Carolina Builders Corp. v. Howard-Veasey Homes, Inc., 324 S.E.2d 626 (N.C. Ct. App. 1985). “G.S. 25-2-305(1). A price to be fixed by the seller means a price to be fixed in good faith.”

— N.C. Gen. Stat. § 25-2-305(2) — 1 case

Carolina Builders Corp. v. Howard-Veasey Homes, Inc., 324 S.E.2d 626 (N.C. Ct. App. 1985). “G.S. 25-2-305(1). A price to be fixed by the seller means a price to be fixed in good faith.”

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