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upset price

   Also found in: Dictionary/thesaurus, Legal, Financial 0.01 sec.
guaranteed maximum cost
An amount established in an agreement between owner and contractor as the maximum cost of performing specified work on the basis of cost of labor and materials plus overhead expense and profit.


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The rate of interest borne by the judgment is vital to know, not only because it must be understood to calculate what is due for payoff or for upset price at the sale, but because delay is possible until a foreclosure sale is conducted.
Generally, at the foreclosure auctions, the starting price, also known as the upset price, is the amount of the mortgage.
No upset price has been fixed for Poolewe Church and the sellers are prepared to consider offers, subject to planning permission for change of use.
 
 
 
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