Minimum Price
/ˈmɪnɪməm praɪs/
Definitions
- (n.) The lowest price at which a good or service can be legally sold, often set by statute or contract to prevent prices from dropping below a certain level.
The law established a minimum price for tobacco products to discourage undercutting.
- (n.) A stipulated lowest price agreed upon in a contract or regulation that sellers must not underbid, to protect economic interests or market stability.
The contract included a minimum price clause to ensure fair competition among suppliers.
Forms
- minimum price
- minimum prices
Related terms
See also
Commentary
Minimum price clauses must be carefully drafted to avoid antitrust violations and comply with applicable statutory limits.
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.