contract price


contract price
Literally, the amount to be paid under a contract of sale, a contract to render services, or a construction contract. In a contract for the construction of a building, the words "contract price" were held to mean not the abstract price or amount agreed to be paid by the owner to the builder, but the sum which the builder was actually entitled to receive for the whole of the work done by him. Doll v Young, 149 Ky 347, 350, 149 SW 854. See total contract price.

Ballentine's law dictionary. . 1998.