Cost Terms in Contracts: What Do “Out-of-Pocket,” “Direct,” and “Actual” Mean?
Many folks looking at a contract for the first time will notice strings of words, often adjectives, accompany terms such as licenses (see, for example, this blog entry), limitations on liability (e.g., indirect, incidental, special, consequential, exemplary, punitive), and others. Today, we are going to take a look at the meaning of words that often …
Cost Terms in Contracts: What Do “Out-of-Pocket,” “Direct,” and “Actual” Mean? Read More »










