Dollars and cents are at the core of most contracts, so a lot of emphasis is put on making sure the figures are correct. There's no law requiring that monetary amounts are written in a specific way, but common usage generally determines the way dollar amounts appear. Just as you use words and numbers when writing checks, contracts often include numeric and word versions of the dollar amounts so there can be no question about the money involved.
Dollars and Contracts
Dollar amounts can be written out either numerically, such as $50,000, or in words -- fifty thousand dollars. Generally, the larger the amount, the more likely it is to be written out in words as well as numerals. While it's easy for the average person to comprehend $100 without the use of words, $1,000,000 is another story. That's one million dollars. However, complicated large numbers might be more difficult for readers to comprehend when written out. Compare $1,543,427.25 to "One million, five hundred forty-three thousand, four hundred twenty-seven dollars and twenty-five cents."