Final answer:
An agreement that does not specify the time for performance is not binding because it is too indefinite.
Step-by-step explanation:
An agreement that does not specify the time for performance is not binding because it is too indefinite. This statement is True. When an agreement does not clearly state when the performance should occur, it becomes difficult to determine if the terms of the agreement have been met. As a result, the agreement is considered too vague to be enforceable legally. For example, if two parties enter into a contract to deliver goods but do not specify a deadline for the delivery, it becomes difficult to determine if the delivery was made on time or not.