Contract price

A contract price is the price listed in the contract for the good or services to be received in return.

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.

gollark: I use Void Linux with LXDE now.
gollark: Praise budgie! Praise non-ubuntu OSes!
gollark: I knew windows was bloated but this is outrageous.
gollark: Why do you ask?
gollark: https://osmarks.tk/errors/403.html

See also

References
    This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.