1
Q
What is a without reserve auction
A
A promise to sell the item to the highest bidder. No minimum/reserve is set.
2
Q
What is the legal effect of a no reserve auction
A
A unilateral contract between highest bidder and auctioneer. Failure to sell to highest bidder = breach of contract by auctioneer
FLK1
flashcards
Decks in class (19)
# Cards
-
Public Law - Judicial Review0
-
Public Law - Public Order7
-
Public Law - Separation of Powers & Rule of Law7
-
Tort - Nuisance2
-
Contract - Auctions2
-
Business - Tax Reliefs1
-
Tort - Vicarious Liability1
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Contract - Misrepresentation3
-
Contract - Frustration1
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Dispute Res - Enforcement1
-
Tort - Occupiers Liability2
-
Contract - Formation1
-
Business - Debt finance1
-
Constitutional - Separation Of Powers2
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Dispute Res - Limitation1
-
Contract - Undue Influence1
-
Dispute Res - Commencing and Responding to Claim27
-
Dispute res - Statements and interim apps17
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Business - Finance9
