Mr. Miyaga requested a price from Daniel, a carpenter, on a teak furniture set to be built according to his specifications for his Japanese garden. Because teak wood is difficult to obtain, Mr. Miyaga agreed to pay the cost of the wood plus $215 and Daniel agreed to build it. Which of the following is correct? Daniel will be bound to the contract, but Mr. Miyaga is not. Ohe agreement between Mr. Miyaga and Daniel fails because it is indefinite and vague. Even though the price for the teak furniture is unclear, Mr. Miyaga and Daniel have a binding contract. Mr. Miyaga is bound to the contract, but Daniel is not.