Transaction Cost Law and Legal Definition
Transaction cost means cost connected with a process transaction. For example, a broker’s commission is a transaction cost. It usually resembles the time and effort expended to arrange a deal, or the cost involved in litigating a dispute. Delays can increase transaction costs, especially the attorneys' fees paid by defendants at hourly rates. These costs reduce either the insurance fund or the company's assets, thereby reducing the funds available to pay pending and future claimants.
Legal Definition list
Related Legal Terms
- ABC Transaction [Oil & Gas]
- Above the Line Costs (Entertainment Law)
- Absorption Costing
- Accelerated Cost Recovery System
- Acquisition Cost of an Item of Purchased Equipment
- Acquisition Cost of Equipment [Education]
- Activity-Based Costing
- Actuarial Cost Assumptions
- Actuarial Cost Method
- Administrative Cost of Issuing a Loan Guarantee
