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Auction - Law Dictionary Search Results

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Lay system

Lay system, means a system in which a fishing vessel's catch is sold at auction, and then the proceeds are provided first to the provider of supplies and then to the master and

Licence fee and fixed fee

right of carrying on certain activities in respect of country liquor or drugs under 'auction system' in public auctions, and the term 'fixed fee' is a fee determined by the Excise Commissioner, in lieu of 'licence fee',

Mortgage

any by which the transfer is effected is called a mortgage deed. Earnest money deposits of bidders at auction sale of forest produce is not mortgage and therefore not liable to stamp duty, Board of Revenue v.

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Open market

to a limited class only, such as the members of the family. The market is not necessarily an auction-sale. The s. means such amount as the land might be expected to realize if offered under conditions enabling

Opening biddings

estate was sold, and put up the estate for sale again. But the Sale of (English) Land by Auction Act, 1867, has, by s. 7, abolished this inconvenient practice (under which biddings were opened even more than

Without reserve

Without reserve. See AUCTION.

Post-obit Bond

not more than a just indemnity for the hazard. Even the sale of a post-obit bond at public auction will not necessarily give it validity, or free it from the imputation of being obtained under the pressure

Sale of Goods Act, 1893

laid down that 'what is a reasonable time is a question of fact'; rules as to sale by auction are enumerated, as that, 'where a sale is not notified to be subject to a right to bid

Sectares

Sectares, bidders at an auction, Civ. Law.

Serjeants' inn

Law judges appointed before the commencement of the Judicature Acts. Their property in Chancery lane was sold by auction in 1877, and the proceeds, 57,000l., divided amongst the then members of the Society. See title SERJEANT.

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