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Webster v

Categories: Contracts

Definition (1910 Edition)

Origin: French

French, 11 Ill. 254.—Biddings. Offers of a designated price for goods or other property put up for sale at auction.—By-bidg- In the law relating to sales by auction, this term is equivalent to “puffing.” e practice consists in making fictitious bids for the property, under a secret arrangement with the owner or auctioneer, for the purpose of misleading and stimulating other persons who are bidding in good faith—Upset bid. <A bid made after a judicial sale, but before the successful bid at the sale has been confirmed, larger or better than such successful bid. and made for the purpose of upsetting the sale and securing to the “upset bidder” the privilege of taking the property at his bid or competing at a new sale. ost v. Porter, 80 Va. ‘
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.