Sunday, August 30, 2015

AGC (Advances) Ltd v McWhirter

case-note legal contract

(1977) 1 BPR 9454

An auctioneer at an auction does not make an offer to sell; bidders are the offeror. No contractual claim can arise unless and until the bidder's offer is accepted usually by the fall of the hammer, which means that the vendor is not bound to sell to the highest bidder.

This general rule does not change: (1) by an announancement at the auction that the highest bidder shall be the purchaser; (2) by an announancement that the property is on the market or the auction is without reserve.