Repair Cost
/ˈrɛpɛr kɔst/
Definitions
- (n.) The amount expended to fix, restore, or maintain property to its prior condition.
The repair cost of the damaged vehicle was covered by the insurance policy.
- (n.) In contract law, the financial burden that a party must bear to remedy a defect or breach causing physical damage.
The seller was responsible for the repair cost after the product failed the warranty terms.
Forms
- repair cost
- repair costs
Related terms
See also
Commentary
Commonly used in property and contract law contexts; clarity about allocation of repair costs is essential in drafting agreements to avoid disputes.
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.