Public Auction
/ˈpʌblɪk ˈɔːkʃən/
Definitions
- (n.) A sale of goods or property conducted openly to the highest bidder, typically under legal supervision or regulation.
The estate was liquidated through a public auction to satisfy creditors.
Forms
- public auction
Related terms
See also
Commentary
Public auctions must adhere to legal standards ensuring transparency and fair opportunity to all bidders.
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.