Public Sale
/ˈpʌblɪk seɪl/
Definitions
- (n.) A sale open to the general public, typically involving goods or property sold by auction or public notice.
The property was sold at a public sale to the highest bidder.
- (n.) A legally mandated sale conducted by a governmental body or court to satisfy a debt or judgment.
The foreclosure sale was conducted as a public sale to repay the mortgage lender.
Forms
- public sales
Related terms
See also
Commentary
Public sales are characterized by openness and accessibility to any bidder, often governed by statutory or procedural rules to ensure transparency.
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.