Legal Definitions - list price

Definition: The price at which a product or service is officially listed by the manufacturer or seller, before any discounts or negotiations.

Example: A car dealership lists a new car for $25,000. This is the list price, but a customer may negotiate a lower price or receive discounts.

Explanation: The list price is the initial price set by the seller or manufacturer. It serves as a starting point for negotiations or discounts. In the example, the car dealership lists the car for $25,000, but a customer may be able to negotiate a lower price or receive discounts, such as a rebate or promotional offer.