Auction
A Law Dictionary, Adapted to the Constitution and Laws of the United States · John Bouvier · 1839
A Law Dictionary, Adapted to the Constitution and Laws of the United States
commerce, contract, is a place, authorised by law, where property is publicly sold to the highest bidder. Auctions are generally held by express authority, and the persons who keep them are licensed to do so under various regulations. The sale of the property is also called an auction. —