“Price agreement” means a definite quantity contract or indefinite quantity contract which requires the contractor to furnish items of tangible personal property, services or construction to a state agency or a local public body which issues a purchase order, if the purchase order is within the quantity limitations of the contract, if any.

Terms Used In New Mexico Statutes 13-1-71

  • Contract: A legal written agreement that becomes binding when signed.
  • Personal property: All property that is not real property.