Read George A. Michak’s discussion of bidder terms, consideration, bid retraction, and contractual limits on withdrawing bids at auction.
A Few Thoughts on Bidder Terms and Conditions, Consideration, and Bid Retraction
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Blog · Category
Auction Contracts & UCC
Articles on auction contracts, bidder terms, and the Uniform Commercial Code, including contract formation and the allocation of rights and duties.
Articles are for information and discussion only. They do not constitute legal advice or establish an attorney-client relationship. Articles retain their original publication dates; laws and circumstances may have changed.
Alex Lyon & Son, Sales Managers & Auctioneers v. Leach : Auction Contracts, Bidder Qualifications, Offer and Acceptance, Waiver, and the Fallacy of Treating All Bidders the Same
Read the introduction and link to George A. Michak’s West Virginia Law Review Online article on auction contracts and bidder qualifications.
UCC Article 9 is Not UCC Article 2 – An Attorney’s Thoughts on Context, Credibility, and Commercial Reasonableness in “AS IS” Auction Transactions
George A. Michak explains why the different contexts of UCC Articles 9 and 2 matter when considering auction transactions and secured property.
A Legal Perspective on the Gap-Filler Provisions of UCC Article 2 for Auctioneers
George A. Michak discusses UCC Article 2 default provisions and how auction contracts and bidder terms can address commercial expectations.
A Few Thoughts For Auctioneers On Contracts Of Adhesion And Unconscionability
George A. Michak examines contracts of adhesion, unconscionability, and the use of reasonably advantageous terms in auction contracts.
Dealing with a Seller’s Withdrawal of Property Before the Auction
George A. Michak discusses seller withdrawal before an auction and the relationship between UCC Section 2-328 and the seller’s contract.
There are a Lot of Moving Parts at an Auction
Explore the contractual relationships among auctioneers, sellers, and bidders, and the importance of understanding the moving parts of an auction.
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