Bid
Black's Law Dictionary · Henry Campbell Black, M.A. · 1910
Black's Law Dictionary
An offer by an intending purchaser to pay a designated price for property which is about to be sold at auction. U. S. v. Vestal (D. C.) 12 Fed. 59; Payne v. Cave, 3 Term, 149; Eppes v. Railroad Co., 35 Ala. 56.
— Bid in. Property sold at auction is said to be "bid in" by the owner or an incumbrancer or some one else who is interested in it, when he attends the sale and makes the successful bid.
— Bid off. One is said to "bid off" a thing when he bids for it at an auction sale, and it is knocked down to him in immediate succession to the bid and as a consequence of it. Ep-pes v. Railroad Co., 35 Ala. 56; Doudna v. Harlan, 45 Kan. 484, 25 Pac. 883.
— Bidder. One who offers to pay a specified price for an article offered for sale at a public auction. Webster v. French, ll 111. 254.
— Biddings. Offers of a designated price for goods or other property put up for sale at auction.
— Upset bid. A bid made after a judicial sale, but before the successful bid at the sale has been confirmed, larger or better than such successful bid, and made for the purpose of upsetting the sale and securing to the "upset bidder" the privilege of inking the property at his bid or competing at a new sale. Yost v. Porter, 80 Va. 858.