Hong Kong Ordinances

SALE OF GOODS ORDINANCE - SECT 11

Agreement to sell at valuation

(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.