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Simple English definitions for legal terms

cost-plus contract

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A quick definition of cost-plus contract:

A cost-plus contract is an agreement between two or more parties that creates obligations that are enforceable by law. It is a type of contract where the buyer agrees to pay the seller for the cost of the goods or services provided, plus an additional amount for profit. This type of contract is often used in construction projects or when the cost of the goods or services is uncertain. The seller is incentivized to keep costs low, as their profit is tied to the cost of the project.

A more thorough explanation:

A cost-plus contract is a type of contract between two or more parties that creates enforceable obligations. In this type of contract, the buyer agrees to pay the seller for the cost of the goods or services provided, plus an additional amount for profit or overhead expenses.

For example, a construction company may enter into a cost-plus contract with a client to build a new office building. The contract may specify that the client will pay the construction company for the cost of materials, labor, and other expenses, plus an additional 10% for profit.

Another example is a software development company entering into a cost-plus contract with a client to create a new software program. The contract may specify that the client will pay the software development company for the cost of the developers' time, equipment, and other expenses, plus an additional 20% for overhead expenses.

These examples illustrate how a cost-plus contract works by allowing the seller to recover their costs and make a profit or cover their overhead expenses. The buyer benefits by knowing exactly what they will pay for the goods or services provided, and the seller benefits by being able to recover their costs and make a profit.

cost-of-living index | cost-push inflation

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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