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Contract price: Wikis


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From Wikipedia, the free encyclopedia

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 as the price for the good or services to be received in the contract determines whether a contract may exist. If the contract price is not included, 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.

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