Auction Sale
Legal definition for Indian law research
Definition
Auction sale, whenever there is an auction the sale must be deemed to be complete. Whether there is a transfer or not depends on the conditions of the auction and these have to be examined to find out when a transfer of the property auctioned takes place. There may be a sale by auction where the sale is not complete till, for example, a document is executed, Bombay Sale and Chemical Industries v. L.J. Johnson, AIR 1958 SC 289 (292). [Displaced Persons (Compensation and Rehabilitation) Act, 1954 (44 of 1954), s. 20]
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