(1) Where there is an
agreement to sell goods on the terms that the price is to be fixed by the
valuation of a third party, and such third party cannot or does not make such
valuation, the agreement is avoided: Provided that if the goods, or any part
thereof, have been delivered to and appropriated by the buyer he must pay a
reasonable price therefor.
(2) Where such third
party is prevented from making the valuation by the fault of the seller or
buyer, the party not in fault may maintain an action for damages against the
party in fault.
[Heading inserted: No. 19 of 2010 s. 44(2).]