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ACTUAL COST Definition & Legal Meaning

Definition & Citations:

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.


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