The upper or top interior surface of a room or region is referred to as the ceiling. The term "ceiling" in law refers to the statutory upper limit on the amount of money that may be charged or spent, as well as the number of commodities that can be produced or sold. The "ceiling" in a contract typically refers to the highest contract price or the price for an item that will be given under the terms of the agreement. The "floor" also refers to a commercial agreement's lowest price or level.
[Last updated in May of 2022 by the Wex Definitions Team]