What is ACTUAL COST?

The actual price paid for goods by a party, in the case of a real bona fulc purchase, and not the market value of the goods. Alfonso v. United States, 2 Storv, 421, Fed. Cas. No. 188; United States v. Sixteen Packages, 2 Mason, 48, Fed. Cas. No. 16.303: Lexington, etc.. R. Co. v. Fitchburg R. Co., 9 Gray (Mass.) 226.

More On This Topic



Link to This Definition
Did you find this definition of ACTUAL COST helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary