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 ?
The firm would sell nearly half of its production in 2014 at contract prices that average around $51 per pound.
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.
T he new quarterly pricing system for iron ore is likely to face a stern test over the next few months if spot prices fall beneath contract prices as is widely antici- pated.
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.
Contract prices are linked to a basket of energy and other indices.
To minimize the risks of market prices falling below contract prices, Robledo said the city will continue to buy a percentage of its energy on the spot market.
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.
This reflects the increase in international LPG contract prices for the month of October, said by Petron.
February contract prices for benzene were 95[cents]/gal, up from 70[cents]/gal at the end of 1995.

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