cost price


cost price
A mercantile term, the meaning of which is relative, depending upon the circumstances under which it is used and the situation of the parties, but which ordinarily would appear to mean merely that amount paid or promised to be paid for an article. As applied to a stock of merchandise, it ordinarily will mean the wholesale price. Sylvester v Ammons, 126 Iowa 140, 101 NW 782.

Ballentine's law dictionary. . 1998.