Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson

Exercise 10

Michael and Scarlett cannot agree on the price he will pay her to manage his hotels in the third year of their contract. They agree to a provision stating that the price will be "reasonable." This provision is. Parties should never include such a provision in a contract unless.
(a) ambiguous, they are sure they will be able to reach an agreement later
(b) vague, they are sure they will be able to reach an agreement later
(c) ambiguous, they would not mind if the other side's interpretation prevails in litigation
(d) vague, they would not mind if the other side's interpretation prevails in litigation