actual cost
Defined in 5 dictionaries — U.S. Code, Bouvier (1914), Black's (1910), Black's (1891), Burrill (1850)
United States Code
12 U.S.C. § 1715K — under this section
As used in subparagraph (A), the term “actual cost” means the cost to the borrower of the improvement, including the amounts paid for labor, materials, construction contracts, off-site public utilities, streets, organization and legal expenses, such allocations of general overhead items as are acceptable to the Secretary, and other items of expense approved by the Secretary, plus a reasonable allowance for builder's profit if the borrower is also the builder, as defined by the Secretary, and excluding the amount of any kickbacks, rebates, or trade discounts received in connection with the improvement.
46 U.S.C. § 53701 — in this chapter (4 versions over time)
Actual cost.—The term "actual cost" means the sum of—
(A) all amounts paid by or for the account of the obligor as of the date on which a determination is made under section 53715(d)(1) of this title; and
(B) all amounts that the Secretary or Administrator reasonably estimates the obligor will become obligated to pay from time to time thereafter, for the construction, reconstruction, or reconditioning of the vessel, including guarantee fees that will become payable under section 53714 of this title in connection with all obligations issued for construction, reconstruction, or reconditioning of the vessel or equipment to be delivered, and all obligations issued for the delivered vessel or equipment.
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
The true and real price paid for goods upon a genuine bona fide purchase. Alfonso v. U. S., 2 Sto. 421, Fed. Cas. No. 188. Money actually paid out. Lexington & W. R. Co. v. R. Co., 9 Gray (Mass.) 226. It is said not to include interest on capital during construction; [1906] A. C. 368; nor "wasted expenditure" such as that on a condemned culvert, under a government contract; 20 S. C. 133, 416 (South African). Under a contract to supply electric light to a municipality, for which it was to pay such sum as would yield a return of 10 per cent. on the "actual cost of generating the light," it was held that this did not include interest on capital, but did include depreciation of plant and rents, taxes and insurance; [1908] A. C. 241.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910
The acfual price paid for goods by a party, in the case of a real bona fide purchase, and not the market value of the goods. Alfonso v. United States, 2 Story, 42l, Fed. Cas. No. 188; United States v. Sixteen Pack ages, 2 Mason, 48, Fed Cas. No. 16.303 ; Lexington, etc., R. Co., v. Fitchburg R. Co., 9 Gray (Mass.) 226.
Defined under Actual in Black's Law Dictionary.
A Dictionary of Law
Henry Campbell Black · 1891
The actual price paid for goods by a party, in the case of a real bona fide purchase, and not the market value of the goods. 2 Story, 422, 429; 2 Mas, 48; 9 Gray, 226.
A New Law Dictionary and Glossary
Alexander M. Burrill · 1850
The actual price paid for goods by a party, in the case of a real bona fide purchase, and not the market value of the goods. Story, J., 2 Story's E. 421, 429. 2 Mason's R. 48. So defined in construction of the 66th section of the U. S. Revenue Act of 1799, ch. 128. See 2 Mason, 393.