Contract and Commercial Law Act 2017

Sale of goods - Formation of contract - Price

129: Fixing contract price

You could also call this:

“How prices are decided when you buy something”

When you buy something, the price can be set in different ways. You and the seller might agree on a specific price when you make the deal. Or, you might agree on a way to figure out the price later. Sometimes, if you’ve bought things from the same seller before, you might use the same pricing method you’ve used in the past.

If you and the seller haven’t decided on a price using any of these methods, you’ll need to pay a fair price for what you’re buying. This means you should pay what most people would think is reasonable for that item.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM6844318.


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"Rules for selling when someone else sets the price"

Part 3 Sale of goods
Formation of contract: Price

129Fixing contract price

  1. The price in a contract of sale may be—

  2. fixed by the contract; or
    1. left to be fixed in a manner agreed in the contract; or
      1. determined by the course of dealing between the parties.
        1. The buyer must pay a reasonable price if the price is not determined in accordance with subsection (1).

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