Upset Price
Defined in 3 dictionaries — Cyclopedic (1922), Bouvier (1914), Black's (1910)
The Cyclopedic Law Dictionary
Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922
In sales by auctions, an amount for which property to be sold is put up, so that the first bidder at that price is declared the buyer. Wharton.
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
The price at which any subject, as lands or goods, is exposed to sale by auction, below which it is not to be sold. In a final decree in foreclosure, the decree should name an upset price large enough to cover costs and all allowances made by the court, receiver’s certificates and interest, liens prior to the bonds, amounts diverted from the earnings, and all undetermined claims which will be settled before the confirmation and sale; Blair v. R. Co., 25 Fed. 232.
Black's Law Dictionary
Henry Campbell Black, M.A. · 1910