Mindset Industries Co Is Interested in Taking a 90% Stake

Multiple Choice

Mindset Industries Co is interested in taking a 90% stake in New Age Computers Co. The parties agree that they should wait a month before the shares are transferred to avoid a fall in value. A month later, the shares lose 30% of their value and Mindset refuses to cooperate on the transfer. In which of the following scenarios could Mindset get out of the agreement by alleging it is too uncertain to be enforced?

A) Because of the haste with which the parties concluded the agreement, they forget to stipulate a contract price for the shares.
B) The parties stipulated that the contract price would be determined by an arbitrator appointed by the English Institute of Arbitration. Mindset now refuses to appear before the tribunal.
C) The parties stipulated that the price can only be determined by a chartered accountant agreed by both parties. Mindset now refuses to cooperate in agreeing an accountant.