Similarly, the price might be reasonable although not set pursuant to "reasonable commercial standards of fair dealing." An example would be where the party sets the open price at a reasonable retail price although reasonable commercial standards of fair dealing would require that the price be set at a reasonable wholesale rate. In the instant case the price was set within the wholesale range. The only issue is whether a spot market price within that range was reasonable vis-Ea-vis the existence of a long term contract price and whether that is a question of fact or of law.
The price may appear reasonable even if it does not align with "reasonable commercial standards of fair dealing." For instance, a party might set an open price at a reasonable retail level, whereas such standards might necessitate a wholesale rate. In this case, the price fell within the wholesale range. The key question is whether a spot market price within that range was reasonable in light of a long-term contract price, and whether this determination is a matter of fact or law.
The price may be considered reasonable, even if it does not align with "reasonable commercial standards of fair dealing." For instance, a party might establish the open price at a reasonable retail price, while the standards would dictate a reasonable wholesale price instead. In this case, the price was determined to be within the wholesale range. The main question is whether a spot market price within that range is reasonable in relation to a long-term contract price and whether this is a factual or legal issue.
The price may be reasonable, even if it is not "reasonable commercial standards of fair dealing." For example, a party may set the open price at a reasonable retail price, but the standards would require a reasonable wholesale price. In this instance, the price was found to be in the wholesale range. The issue is whether a spot market price in that range is fair compared to a long-term contract price and whether this is a factual or legal question.
The price may be deemed fair, even though it does not meet "reasonable commercial standards of fair dealing." For example, a party may set the open price at a fair retail price, and the standards may set a fair wholesale price. In this instance, the price was set at the wholesale level. The central issue is whether a spot market price in that range is reasonable in comparison to a long-term contract price and whether this is a factual or legal question.