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Without Reserve

Legal Definition and Related Resources of Without Reserve

Meaning of Without Reserve

In relation to auctions, the term means that the vendor shall not bid nor anyone on his behalf and that the property shall be sold to the highest bidder, whether the sum bid be equivalent to the real value or not. See Anderson v. Wisconsin C.R. Co., 107 Minn. 296, 120 N. W. 39; Zuhak v. Rose, 264 Wis. 286, 58 N. W.2d 693.

Without Reserve Alternative Definition

These words are frequently used in conditions of sale at public auction, that the property offered, or to be offered, for sale, will be sold without reserve. When a property is advertised to be sold without reserve, if a puffer be employed to bid, and actually bid at the sale, the courts will not enforce a contract against a purchaser, into which he may have been drawn by the vendor’s want of faith. 5 Madd. 34. See Puffer.

International Trade Meaning and Definition of Without Reserve

A term indicating that a shipper’s agent or representative is empowered to make definitive decisions and adjustments abroad without approval of the group or individual represented.Glossary of Export Trade Terms Starting withY – Words and Definitions

Related Entries of Without Reserve in the Encyclopedia of Law Project

Browse or run a search for Without Reserve in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Without Reserve in Historical Law

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This definition of Without Reserve is based on the The Cyclopedic Law Dictionary . This entry needs to be proofread.

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