Auction, Sales By

Auction, Sales By in Europe

Definition of Auction, Sales By

The Sale of Land by Auction Act, 1867, makes it unlawful, where a sale is stated to be without reserve, for the vendor to employ a person to bid ; but the vendor, may, in the particulars or conditions of sale, reserve the right to bid and employ a person (” puffer”) to bid accordingly. The Sale of Goods Act, 1893, s. 58, contains similar provisions. See Harris v. Nickerson
In the Dutch auction the property is put up at an excessive price and is offered at decreasing prices until someone closes

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Definition of Auction, Sales By is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.

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