By Bidder - Law Dictionary Search Results
Home Dictionary Name: by bidderBidder
Bidder, a person who makes an offer at an auction, which he may retract before acceptance, although there may be a condition prohibiting it. See AUCTION....
award
award [Anglo-French awarder agarder to look at, decide on, impose, alteration of Old French esguarder to look at, from es-, intensive prefix + guarder to guard] 1 : to give in accordance with a judicial or administrative determination or decision [ punitive damages] 2 : to grant as deserved [ed the contract to the lowest bidder] n 1 : a judgment or final decision: as a : arbitrator's award b : a formal decision regarding benefits in a workers' compensation claim 2 : something granted esp. on the basis of merit or entitlement: as a : a contract won by a successful bidder b : relief usually in the form of money (as damages or alimony) granted to a party in a legal proceeding ...
Upset price
Upset price, in sales by auction, an amount for which property to be sold is put up, so that the first bidder at that price is declared the buyer, if there is no higher bid....
Sectares
Sectares, bidders at an auction, Civ. Law....
Puffer
Puffer, one who attends a sale by auction, to bid on the part of the owner, for the purpose of raising the price and exciting the eagerness of the bidders.The (English) Sale of Land by Auction Act, 1867 (30 & 31 Vict. c. 48), regulates the employments of puffers at an auction for the sale of land, and enacts that all sales of land where a puffer has bid shall be illegal unless a right of bidding on behalf of the owner shall have been reserved; that the conditions of sale shall state whether the sale is to be without reserve, or subject to a reserved price, or whether a right to bid is reserved; that if it be stated that the sale is to be without reserve, a puffer is not to be employed; that if a right to bid be reserved, the seller or one puffer may bid; and that the practice of opening bidding, formerly sanctioned by courts of equity, shall be discontinued. As to sale of goods by auction, see similar provisions, s. 58 of the Sale of Goods Act, 1893, and see AUCTION....
Portsoka, or Portsoken
Portsale, a public sale of goods to the highest bidder; also a sale of fish as soon as it is brought into the haven....
Portsale
Portsale, a public sale of goods to the highest bidder; also a sale of fish as soon as it is brought into the haven....
Opening biddings
Opening biddings. Before 1867, where estates were sold, under the decree of a Court of Equity, the Court considered itself to have a greater power over the contract than if the contract were made between party and party; and as the aim of the Court was to obtain as great a price as possible for the estate, it would open the biddings after the 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 once), with an exception for cases of fraud or improper management of a sale, in which upon the application of any person interested in the land, 'the Court may either open the biddings, holding such bidder bound by his bidding, or discharge him from being the purchaser, and order the land to be resold', see Delves v. Delves, (1875) LR 20 Eq 77....
Mortgage
Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...
Lots
Lots. Parcels of land under one ownership put up separately at one sale. By s. 45 (5) of the (English) Law of Property Act, 1925, it is an implied condition of the sale that a purchaser of two or more lots held wholly or partly under the same title shall not have a right to more than one abstract of the common title, except at his own expense. As a rule the purchaser of the largest lot in value is entitled to the documents of title on completion where all the lots have been sold. [see, e.g., General Conditions of Sale, 34 (2) (i)]As to the position of a bidder purchasing a wrong lot by his own mistake, see Van Praagh v. Everidge, (1903) 1 Ch 434....
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