invoice price

invoice price
Literally, the amount of value placed upon an item of goods or merchandise in the invoice in which the item appears. Appearing in a stipulation in a contract of carriage that the liability in case of loss of the goods shall be limited to the invoice price at the point of shipment, the term "invoice price" is not rendered meaningless by the fact that no invoice was actually made out or agreed upon; by application of the rule of reasonable construction, it should be considered to mean the actual value of the goods where loaded and ready for transportation. Pierce v Southern Pacific R. Co. 120 Cal 156, 47 P 874, 52 P 302. See invoice purchase price.

Ballentine's law dictionary. . 1998.

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