Contract price

Short description: Price for a product as listed in a contract

A contract price is a monetary figure that has been agreed upon in a contract, to be received in exchange for goods or services.[1]

## Contents

* 1 Contract law
* 1.1 Common law
* 2 See also
* 3 References

## Contract law

### Common law

In contract law the contract price is a material term. The contract price is the price for the goods or services to be received in the contract. The contract price helps to determine whether a contract may exist. If the contract price is not included in the written contract, then upon litigation the court may hold that a contract did not exist.

In litigation, the contract price is a factor for determining damages upon a party forsaking its contractual obligations. The contract price as a point of reference may help determine the expectancy interest of the party suffering damages as well as the reliance interest along with damages under promissory estoppel.

## See also

* Contract
* Uniform Commercial Code
* Contract of sale

## References

1. ↑ "contract sum (contract price)". A Dictionary of Construction, Surveying and Civil Engineering (2nd ed.). Oxford University Press. 2020. doi:10.1093/acref/9780198832485.001.0001. ISBN 9780191871061.

0.00

(0 votes)

Original source: https://en.wikipedia.org/wiki/Contract price. Read more

|

Retrieved from "https://handwiki.org/wiki/index.php?title=Finance:Contract_price&oldid=3845953"