Price-Sale of Goods Contract(Kenya)

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Price is the consideration provided by the buyer for the transfer of property in goods. The price may be expressed in terms of money. If price is expressed in terms of goods, it becomes a contract of exchange. (barter trade)

Ascertainment of Price

According to Section 10(1), the price may be:

a.) fixed by the contract

b.) fixed in a manner thereby agreed

c.) determined by the course of dealing between the parties

Section 10(20, where the price is not determined, the buyer may pay a reasonable price. What is reasonable depends on the particular situation and circumstance of each case.