Finance: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.

See also

• Contract
• Uniform Commercial Code
• Spot price