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In an Auction Sale, Satisfaction of a Starting bid does not Change a “With Reserve” Auction to one “Without Reserve”
The Court of Civil Appeals of Oklahoma, Third Division in Mabry v. Like, 76 P.3d 96 (Okla. Ct. App. 2003) held that in an auction where there is a minimum starting bid, the satisfaction of the starting bid does not change an auction with reserve to one without reserve. The starting bid is only a platform at which the bids must start, the minimum for starting bids. Starting bids d...
In an Auction Sale Where Seller Specifically Reserves the Right to Accept or Reject the High Bid at a later time, the hammerfall signals only the end of the bidding, rather than the consummation of the sale
The Court of Civil Appeals Of Oklahoma, Third Division in East v. Brown, 986 P.2d 523 (Okla. Civ. App. 1999) held that in an auction sale where the seller specifically reserves the right to accept or reject the high bid at a later time, the hammerfall is only an end of bidding. In such cases, the auction sale is not consummated when the hammer falls. East involved an auction sale in ...
Auction of Surplus and Forfeited Property the Oklahoma Department of Public Safety
Oklahoma Administrative Code Title 595. Department of Public Safety Chapter 1. General Rules of the Department of Public Safety Subchapter 15. Sale and Auction of Surplus and Forfeited Property § 595:1-15-4. Auction of surplus and forfeited property (a) General. All auctions are open to the public. Any person or agency may purchase surplus or forfeited property at an auction conducted by...
Reverse Auction Bidding; Procedure, Public Disclosure and Remedies in Oklahoma
Oklahoma Statutes Annotated Title 11. Cities and Towns (Refs & Annos) Chapter 1. Municipal Code (Refs & Annos) Organization Article XVII. Municipal Finances (Refs & Annos) § 17-115. Reverse auction bidding--Procedure--Public disclosure--Remedies A. A municipality or any public trust of which the municipality is beneficiary or any nonappropriated governmental agen...
When Sale of Auction Lot Final Oklahoma
Oklahoma Statutes Annotated Title 12A. Commercial Code (Refs & Annos) Article 2. Sales (Refs & Annos) Part 3. General Obligation and Construction of Contract § 2-328. Sale by Auction (1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A sale by auction is complete when the auctioneer so announces by the fall of the hammer or...
Reverse Auction Bidding in Oklahoma
Oklahoma Statutes Annotated Title 19. Counties and County Officers Chapter 35. Emergency Medical Service District Budget Act Reverse Auction Bidding § 1801. Reverse auction bidding A. A county of the state is authorized to use a reverse auction bidding procedure to obtain bids for the purchase of goods or services of any type or kind. The reverse auction shall be...
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