Backer has now decided to auction his motorcycle. He registered his vehicle at a public auction. The auction was held on 10th December 2008. The starting price is RM 3,000. Many bids were made and the price has now reached RM 15,000. David, a popular politician made a bid of RM 16, 000. The other bidders were getting excited. The place started getting noisy. David who was seated at the back now said he wished to withdraw his bid. However, the auctioneer could not hear what David said. The auctioneer announced that the final bidder was David by the fall of the hammer.
What can David do now?
Originally posted 2009-08-09 21:22:37.
No related posts.
{ 3 comments… read them below or add one }
Since the message was not delivered to the auctioneer the withdrawal is not valid, and David is bound by his last bid.
His bid is legal binding. Making the bid is essentially a verbal agreement to a binding contract. He faces the burden of proof to claim he withdrew and in this situation its highly unlikely he is going to be able to do that.
You can’t be serious.
Open your textbook and read; this is a simple question.