Cost Assessment
/ˈkɒst əˌsɛsmənt/
Definitions
- (n.) The process of evaluating and determining the financial obligations, expenses, or fees liable in a legal matter, often relating to court costs or damages.
The court ordered a cost assessment to determine the expenses the losing party must pay.
Forms
- cost assessments
Related terms
Commentary
Cost assessment typically involves a detailed review of expenses incurred during litigation or enforcement and is distinct from general fee assessment; precision in defining the scope of costs is crucial in legal drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.