Pawlowski, Mark ORCID: https://orcid.org/0000-0002-5473-5809 (2022) Auction sale contracts. Solicitors Journal, 165 (4). pp. 59-61. ISSN 0038-1152

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Abstract

The article examines the various contractual relationships arising on a typical sale by auction. First, there is a contract between bidders inter se, what can be termed as the “taking part contract”. Secondly, there is a contract between the auction house and each individual bidder. Thirdly, there is the sale contract itself which exists between the bidder whose bid is accepted and the seller. Fourthly, there is the potential for a separate (or collateral) contract to exist between auctioneer and highest bidder where the auction involves the sale of a lot without reserve. Each of these are discussed in turn as playing a valuable role in protecting the interests of both buyer and seller.

Item Type:	Article
Uncontrolled Keywords:	auctions; contracts; seller and buyer; auction house; sale contract; collateral contract; contractual relationships
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce
Faculty / School / Research Centre / Research Group:	Faculty of Liberal Arts & Sciences Faculty of Liberal Arts & Sciences > School of Law & Criminology (LAC)
Last Modified:	15 Jun 2022 10:31
URI:	http://gala.gre.ac.uk/id/eprint/36677

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