Price
A Law Dictionary, Adapted to the Constitution and Laws of the United States · John Bouvier · 1839
A Law Dictionary, Adapted to the Constitution and Laws of the United States
contracts, is the consideration in money given for the purchase of a thing. The true price of a thing is that for which things of like nature and quality are usually sold in the place where situated, if real property; or in the place where exposed to sale, if personal. Poth. Contr. de Vente, n.
243.
The first price or cost of a thing does not always afford a sure criterion of its value. It may have been bought very dear or very cheap.
Marsh. Ins. 620 et seq.; Ayliff’s Pand. 447; Merlin, Répert. h. t.