EN
TR
“The auctioneer is the agent of the vendor, and the assent of both parties is necessary to make the contract binding; that is signified on the part of the seller by knocking down the hammer, which was not done here till the defendant had retracted. An auction is not unaptly called locus pœnitentiæ. Every bidding is nothing more than an offer on one side, which is not binding on either side till it is assented to.”(47) In Barry v Davies,(48) the Court of Appeal…
Where the Sale of Goods Act 1979 applies, the “sale by auction is complete when the auctioneer announces its completion by the fall of the hammer, or in other customary manner; and until the announcement is made any bidder may retract his bid”…
