Legal Definitions - preventive punishment

Definition: The amount of money or other consideration asked for or given in exchange for something else; the cost at which something is bought or sold.

Examples:

• Agreed price: The price for a sale, especially of goods, arrived at by mutual agreement.
• Market price: The prevailing price at which something is sold in a specific market.
• Wholesale price: The price that a retailer pays for goods purchased (usually in bulk) from a wholesaler for resale to consumers at a higher price.

These examples illustrate how price refers to the amount of money or other consideration that is exchanged for something. The agreed price is the price that both parties have agreed upon for a sale, while the market price is the prevailing price in a specific market. The wholesale price is the price that a retailer pays for goods purchased from a wholesaler for resale to consumers at a higher price.