Licitation

In the civil law. An offering for sale to the highest bidder or to him who will give most for a thing. An act by which co-heirs or other co-proprietors of a thing in common and undivided between them put it to bid between them, to be adjudged and to belong to the highest and last bidder, upon condition that he pay to each of his co-proprietors a part in the price equal to the undivided part which each of the said coproprietors had in the estate hcited, before the adjudication. Poth. Cont. Sale, nn.

516, 638.