Public sale

Public sale – this term is applicable in the area of Litigation Procedures, where it refers to an open sale in the form of an auction, which represents a sale initiated by enforcement agent (who acts as auctioneer) and opened to the general public, with participation of many candidates to buy the offered item for sale. The buyer who places the higher bid will win the auction and achieve the ownership of the asset taken to sale. Sometimes referred as “public auctioneering”.

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