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Price

Black's Law Dictionary · Henry Campbell Black, M.A. · 1910

Black's Law Dictionary

The consideration (usually in money) given for the purchase of a thing. It is true that "price" generally means the sum of money which an article is sold for; but this is simply because property is generally sold for money, not because the word has necessarily such a restricted meaning. Among writers on political economy, who use terms with philosophical accuracy, the word "price" is not always or even generally used as denoting the moneyed equivalent of property sold. They generally treat and regard price as the equivalent or compensation, in whatever form received, for property sold. The Latin word from which "price" is derived sometimes means "reward," "value," "estimation." "equivalent." Hudson Iron Co. v. Alger, 54 N. Y. 177.

Price current. A list or enumeration of various articles of merchandise, with their prices, the duties, if any, payable thereon, when imported or exported, with the drawbacks occasionally allowed upon their exportation, etc. Wharton.