Payne v Cave; 2 May 1789

References: (1789) 3 TR 148, [1789] EngR 2443, (1789) 100 ER 502 (B)
Links: Commonlii
Ratio The defendant’s bid for a worm-tub, and a pewter worm was highest at the auction, but he withdrew his bid before the hammer fell. The auction was under standard conditions.
Held: No contract had been made. The bid was an offer which could be withdrawn at any time before acceptance by the auctioneer’s hammer. The auctioneer’s request for bids is not an offer which can be accepted by the highest bidder.

Last Update: 25-Mar-16
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