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The Principles Of European Contract Law 1998 - (completed and revised version)
European Union
copy @ Lex Mercatoria
(1) Where the price or any other contractual term is to be determined by a third person, and it cannot or will not do so, the parties are presumed to have empowered the court to appoint another person to determine it.
(2) If a price or other term fixed by a third person is grossly unreasonable, a reasonable price or term shall be substituted.
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