At common law, in order for a contract to be binding on the parties, the terms must be sufficiently definite or the contract will fail. This lesson explores the boundaries of the doctrine of indefiniteness.
On completion of the lesson, the student will be able to:
1. Describe when an agreement with indefinite terms is enforceable under the common law.
2. Identify the "gap fillers" that make an agreement with indefinite terms enforceable under the UCC.