Contract price

“ The grower's price I understand to be the same with what is sometimes called the contract price, or the price at which a farmer contracts for a certain number of years to deliver a certain quantity of corn to a dealer. As a contract of this kind saves the farmer the expense and trouble of marketing, the contract price is generally lower than what is supposed to be the average market price. ”

“ Extra expenditures to get subcontracts necessarily add to government costs in cost-plus-a-fixed-fee and other cost reimbursable contracts. And this is also true where the prime contract is a negotiated fixed-price contract with a price redetermination clause, such as the prime contract is here. The kickbacks here are passed on to the Government in two stages. The prime contractor rarely submits his bid until after he has tentatively lined up his subcontractors. Indeed, as here, the subcontractors frequently participate in negotiation of the prime contract. ”

“ The term 'excessive profits' means any amount of a contract or subcontract price which is found as a result of renegotiation to represent excessive profits.
' (5) The term 'subcontract' means any purchase order or agreement to perform all or any part of the work, or to make or furnish any article, required for the performance of another contract or subcontract. The term 'article' includes any material, part, assembly, machinery, equipment, or other personal property. ”

“ The court practically enforces specific performance of a contract which would not be enforced in equity. The title to the manufactured goods is said to pass to the vendee, who is required to pay the full contract price. ”

“ The original seller has to pay the difference between the two prices, if the latter is higher than the original contract price. A similar practice, termed “selling out,” prevails when a purchaser fails to take up his securities. ”

“ The plaintiff agreed to accept in full satisfaction for all work done under the contract the contract price, reduced by damages deducted for his delays and increased or reduced by the price of changes, as fixed by the Chief of the Bureau of Yards and Works. Nothing more is allowed for changes, as to which the Government is master. ”

“ If language is to be interpreted in its natural and ordinary sense, the contract means that, and means nothing more nor less. The purchases, it says, shall be made during the present year. The sale shall be made within five years from that time, and one-half the profits from such purchase and sale, not from purchases or sales made at any other time, shall be paid to Price, not as profits, but as compensation for his services. ”

“ As we have seen above, in treating of sales, the essential basis of justice in exchange was the observance of aequalitas between buyer and seller—in other words, the fixing of a just price. The contract of mutuum, however, was nothing else than a sale of fungibles, and therefore the just price in such a contract was the return of fungibles of the same value as those lent. If the particular fungible sold happened to be money, the estimation of the just price was a simple matter—it was the return of an amount of money of equal value. ”

“ We were told the business could not be given to us, no matter how advantageous our terms might be, and our inference was that the object of the trust was not to get the material at the lowest price, but to give the business to a favored firm without competition.
This large contract naturally excited much interest in the trade and great efforts were made to ascertain its terms. The generally accepted theory was that the firm supplied the material as wanted and the price for each month's deliveries was fixed by the average of the market for the last ten days of the month. ”

“ In ordinary cases the seller’s duty to deliver the goods is satisfied if he puts them at the disposal of the buyer at the place of sale. The normal contract of sale is represented by a cash sale in a shop. The buyer pays the price and takes away the goods: “ Unless otherwise agreed, delivery of the goods and payment of the price are concurrent conditions” (§ 27) . But agreement, express or implied, may create infinite variations on the normal contract. ”

“ Contract prices ('base price less freight allowance') named in orders for future delivery of 19 products, separately as to domestic and export shipments.
(5) Capacity of ovens, furnaces, works, and mills in respect of 18 products.
(6) Orders booked during each month and orders unfilled at the end of each month respecting 19 products. ”

“ In the agreement to sell there must be a consideration on both sides to sustain it. Sometimes the parties agree that the amount of the price shall vary according to the happening, or failure to [231] happen, of a future event. Such a contract may be a wager, which is forbidden by law, or it may be legal, as we shall soon learn. Whenever no price has been fixed the law has established a rule, a reasonable price. It is the intention and understanding of the parties that a buyer who orders a barrel of flour from his grocer will pay a reasonable price. ”

“ He undertook to deliver a certain quantity of goods at the shipping point, and his contract obligation was not fulfilled unless he delivered that quantity. It does not appear, however, that the contract was such as to allow the buyer to accept less than the quantity sold at a pro rata price. As the contract is described to us, it was a sale of a definite quantity for a stipulated price, with no other provision. That being the case, the buyer, when tender was made to him had no choice other than to accept the tender as satisfactory, or else to reject it and claim damages for breach of contract. ”

“ A contract among those engaged in the latter business, by which the prices for the transportation of commodities traded in or manufactured by the others is greatly enhanced from what it otherwise would be if free competition were the rule, affects, and to a certain extent restricts, trade and commerce, and affects the price of the commodity. ”

“ The article, in substance, provided that no change or modification 'involving an alteration in the specifications as to character, quantity, and quality, whether of labor or material, as would either increase or diminish the cost of the work,' should be made unless 'agreed upon in writing by the contracting parties, the agreement setting forth fully the reasons for such change, and giving clearly the quantities and price both of material and labor thus substituted for those specified in the original contract,' etc. ”

“ After receiving the
notice, the Contractor shall immediately take corrective action. If the Contractor fails or refuses to
promptly take corrective action, the Contracting Officer may issue an order stopping all or part of
the work until satisfactory corrective action has been taken. The Contractor shall not be entitled to
any equitable adjustment of the contract price or extension of the performance schedule on any stop
work order issued under this clause. ”

“ No contract for the sale of any goods, wares, or merchandise for the price of ten pounds sterling or upwards, shall be allowed to be good except the buyer shall accept part of the goods so sold, and actually receive the same, or give something in earnest to bind the bargain, or in part payment, or some note or memorandum in writing of the said bargain, be made and signed by the parties to be charged by such contract or their agents thereunto lawfully authorized. ”

“ The reasons for dispersion are principally three: (1) Many prices are restrained by previous contract, by legal prohibition, or by force of custom. (2) Some prices are intimately related to the money metal. (3) Each individual price is subject to special variation under the influence of its particular supply and demand. There exists, however, a compensation in price movements in the sense that the failure of one set of prices to respond to any influence on the price level will necessitate a correspondingly greater change in other prices. ”

“ In determining the estimated value of a proposed works or immovable property contract, the contracting authority shall include all reasonably foreseeable elements of the ultimate price to be paid by the contracting authority for such works, services, products and objects, including any and all applicable taxes, duties and other charges. ”

“ It is possible, that when a party practically goes by default on a contract, through a very inferior tender, or by a late delivery, they may yet be entitled to claim from the other party, a difference in price. For instance: Somebody sells cotton at 22 cents, the market drops to 20 cents, the contract is invoiced back for bad delivery, then, the seller, who is the guilty party, has a claim against the buyer, for a difference in the market of 2 cents less penalty of 2% = 0.44 cents, equalling 1.56 cents net. ”

“ Purchase contracts for future delivery, if made at a fixed price, may be disregarded unless at the date of the balance sheet market value is lower than cost, when a reserve should be set up. A fuller statement of the facts shows the transaction among both assets and liabilities. If the contract, being speculative, is not at a named price, the showing of the reserve is prudent and conservative. ”

“ Under the wage contract the worker gets in a definite sum at once the market value of his services. Under the wage contract the employer takes the risk as to the future selling price of the product. That he is the one best prepared to assume the risk will be made clearer in the discussion of the employer's function. ”

“ The American Company fixes and prescribes the prices of its said products, and said contracts when entered into cover all such products of the American Company which may thereafter from time to time be acquired by such dealers from the Columbia Company, without any new express price restriction contract being entered into at the time when each order for goods subsequent to the entering into of said contract is placed or filled by said dealers. ”

“ A Sale is a transfer of the title to property to another person for a certain price; or the exchange of a commodity for its equivalent value in money. The exchange of one commodity for another, is barter. Unless the absolute title is conveyed, the contract is merely a mortgage. The same general principles of law which apply to contracts in general, are applicable to contracts of sale, viz.: the competency of the parties to contract ”

“ It is the policy of the Federal Government that executive agencies shall not engage in noncompetitive contracts except in those circumstances where their use can be fully justified and where appropriate safeguards have been put in place to protect the taxpayer. In addition, there shall be a preference for fixed-price type contracts. Cost-reimbursement contracts shall be used only when circumstances do not allow the agency to define its requirements sufficiently to allow for a fixed-price type contract. ”

“ It seldom happens that the price bid is so low as the agents deem equivalent, therefore it is understood that the last man is only entitled to the option of closing the contract upon the terms to be named by the captain ”

“ As there is a tacit understanding that the successful competitor shall pay the official who fixes the upset price a commission of 10 per cent on the gross amount of the contract, it follows, as a matter of course, that this price is always ridiculously high. ”

“ Grants are
generally awarded to government entities and non-profit organizations.
Contracts are used to acquire goods or services.
What factors should be used when evaluating potential contractors?
The requirements for each contract should be tailored to the acquisition. However all decisions to
award contracts should involve consideration of the following factors:
•
Value. While price is very important in determining a contract award, it ensuring the
performance of the contract in responsible manner is also important. ”

“ Sufficient information will be included
in the contract file to enable a review of the transaction, including evidence of
competition or the basis for contracting without competition, price quotations, and
the basis for the contract award if price is not the determining factor. Written
justifications detailing the unique qualifications of the contractor or other exigent
circumstances requiring an award without competition will be prepared for Small
Purchases. Requirements for justifications are contained in Appendix A. ”

“ Authorization - Although competitive bidding is preferred in general, competitive
negotiated contracts that comply with this Order are hereby specifically authorized
and should be employed whenever the interests of the governmental unit or agency
concerned will best be served by awarding the contract on a basis other than the
lowest price. ”

“ We shall examine the various issues presented by the rate structure in light of these interrelated criteria.
The first issue is whether the Commission properly rejected the producers' contention that area rates should be derived from field, or contract, prices. The producers have urged that prevailing contract prices provide an accurate index of aggregate revenue requirements, and that they are an appropriate mechanism for the protection of consumer interests. ”

“ During the lengthy process of production the business world is incurring outgoings in terms of money—paying out in money for wages and other expenses of production—in the expectation of recouping this outlay by disposing of the product for money at a later date. That is to say, the business world as a whole must always be in a position where it stands to gain by a rise of price and to lose by a fall of price. Whether it likes it or not, the technique of production under a régime of money-contract forces the business world always to carry a big speculative position; ”

“ Some are far more easily adjustable than others. Only by extremely violent hypotheses could we imagine perfect adjustability in all. The order of adjustability from the least to the most adjustable may be roughly indicated as follows:*11—
1. Contract prices of properties and services, especially where the contracts are for a long time; these include bonds, mortgage notes, use of real estate by leases. 2. Contract prices of properties and services, where the contracts are for a shorter time; these include bills of exchange, use of rented real estate and commodities, services of workmen, etc. ”