Auctions
/ˈɔːkʃənz/
Definitions
- (n.) A public sale in which goods or property are sold to the highest bidder under legal rules governing bidding and sale procedures.
The estate assets were distributed through auctions held by a court-appointed trustee.
Forms
- auction (singular)
Related terms
See also
Commentary
Auctions in legal contexts must comply with specific procedural rules to ensure fair bidding and enforceability of the sale.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.