A customer requested a price from a carpenter on a teak cabinet to be built according to the buyer's specifications. Because teak wood is difficult to obtain, the customer agreed to pay the cost of the wood plus $175 and the carpenter agreed to build it. Which of the following is correct? Although the price is somewhat unclear, the parties have entered into a contract. This is an agreement to agree, and is not binding. This agreement fails for indefiniteness. The carpenter is bound by the agreement, but not the customer.

A customer requested a price from a carpenter on a teak cabinet to be built according to the buyer's specifications. Because teak wood is difficult to obtain, the customer agreed to pay the cost of the wood plus $175 and the carpenter agreed to build it. Which of the following is correct? Although the price is somewhat unclear, the parties have entered into a contract. This is an agreement to agree, and is not binding. This agreement fails for indefiniteness. The carpenter is bound by the agreement, but not the customer