Explanation of Article 313
The price is one of the two subjects of obligation in a contract of sale, and it is required that it be determined at the time of the contract or capable of being determined; as is the case with any subject of obligation in the contract; otherwise, it would be void, according to Article (72). It is not necessary for the condition of determining the price to be fulfilled that its amount be specified at the time of the contract; as long as it is capable of being determined by the agreement of the contracting parties on valid bases by which it can be determined, this is considered sufficient to fulfill the condition of determination.
The system includes multiple examples of valid bases by which the price can be determined, which are: 1- The basis is the market price, as stipulated in Article (314). 2- The basis is the price that has been customary between the contracting parties, as stipulated in Article (315). 3- The basis is the seller's capital in the sold item, as stipulated in Article (316).
In all these cases, the determination of the price amount can be based on the valid basis by explicit agreement; such as the contracting parties agreeing that the sale be at the market price, or by implicit agreement inferred from the circumstances, as will be explained in Article (315).
The examples mentioned in the system are not exhaustive; anything that is considered a valid basis for determining the price amount can be estimated accordingly.
Related To
Article 313
Estimation of the sale price may be made only on the basis of valid pricing criteria.