QUESTION 2 Onassis and Charlie agree that Onassis will buy Charlie's Bookshop at a price to be determined by Charlie. Which ONE of the following statements regarding the purchase price and the validity of the contract of sale between Onassis and Charlie is CORRECT? 1 The contract is a valid contract of sale, because it is not an essential requirement for a contract of sale that the purchase price must be determined or determinable. 2 The contract is not a valid contract of sale, because the price is not determinable and for a valid contract of sale the price may not be unilaterally determined by only one party. 3 The contract is not a valid contract of sale, because the purchase price is determined or determinable. 4 The contract is a valid contract of sale, because the purchase price is determinable. (2)