Contract Price

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Contract Price

In common law, the amount of money one receives in exchange for providing a good or service outlined in a contract. The contract price must be stated in the contract. For example, if two parties make a contract to sell a house for $100,000, the contract price is $100,000.

contract price

A tax term used in the calculation of gain realized on an installment sale. It is the selling price, minus any mortgage debt assumed by the buyer, plus the excess of any such liens collected in addition to the seller's equity in the property.

Contract Price

With respect to an installment sale, one of the amounts used to compute the percentage of each principal payment that is taxable as gain. The contract is equal to the gross selling price when no mortgages are assumed. If a mortgage is assumed, the contract price is the gross selling price minus the amount of the mortgage plus the excess (if any) of the mortgage over the seller's basis and expenses of sale.
References in periodicals archive ?
Contract prices for light American crude for June forwards in NYMEX rose about 7 cents to reach USD 95.
Behind Nanya's recession were anemic DRAM spot prices and moderate surge of contract prices.
June ethylene monomer contract prices moved up only 1.
The court set the amount of damages in question at 7 percent of the contract price because average contract prices in similar projects across the country concluded by each of the five makers were 6.
Since contract prices are set up to be the loss per $100,000 in premium income, $59,400 becomes the June contract price expected in January.
This expanded capability allows Gartner to compare the service provider's contract prices against actual market prices paid by clients who are buying similar services," said David Howe, group vice president at Gartner Consulting.
February contract prices for benzene were 95[cents]/gal, up from 70[cents]/gal at the end of 1995.
1) Cost per month is based on a one-semester community college plan for an infant enrolled at 2004-2005 contract prices.
Great Lakes REIT also announced that it has entered into definitive agreements to sell its portfolio of medical office buildings to LaSalle Investment Management, on behalf of an institutional client, for a contract price of approximately $69 million, and to sell its two Minnesota assets to an affiliate of Fortis Asset Management and to the University of Minnesota for total contract prices of approximately $42 million.
Once a buyer and supplier have approved negotiated contract prices, the supplier can post a catalog of contract items on the Exchange to which only approved buyers have access.
This created a disincentive for wholesalers and distributors to allocate product at low contract prices as long as a vibrant 'spot market' existed for product priced two to three times above contract prices.
announced today at FOSE '95 a new Environmental Protection Agency (EPA) Cooperators Program that will enable EPA affiliated agencies to purchase its full line of leading open systems hardware, software and system integration services at special EPA contract prices.

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