bid

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bid

n. an offer to purchase with a specific price stated. It includes offers during an auction in which people compete by raising the bid until there is no more bidding, or contractors offer to contract to build a project or sell goods or services at a given price, with usually the lowest bidder getting the job. (See: contract)

bid

noun advance, approach, estimate, licitatio, offer, offered price, overture, presentation, price, proffer, proposal, proposition, quotation, quoted price, submission, tender
Associated concepts: auction sale, bid bond, bid in, bid off, bidder, competitive bidding, proposal, upset bid, with reserve, without reserve
See also: appeal, application, assign, call, command, detail, dictate, direct, endeavor, enforce, enjoin, impose, insist, instruct, invitation, invoke, mandate, offer, order, overture, petition, pray, prescribe, proffer, propose, proposition, request, summon, summons, writ

BID, contracts. A bid is an offer to pay a specified price for an article about to be sold at auction. The bidder has a right to withdraw his bid at any time before it is accepted, which acceptance is generally manifested by knocking down the hammer. 3 T. R. 148; Hardin's Rep. 181; Sugd. Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn. St. R. 486; 8, Id. 408. Vide 0@ffer.

References in periodicals archive ?
Fifth, as noted above, Roth and Ockenfels (2002) argue that inexperienced bidders tend to continually raise their bids to maintain their status as high bidder because they do not understand the incentives present on eBay that encourage bidders to place last-minute bids.
With the service, PAYGENT serves as an auction intermediary between bidders and sellers, by ensuring that sellers can send their goods to bidders only after confirming bidder's payment while sellers can receive payment only after confirming bidders' receipt of goods.
RFI's) when written responses are to be provided to all bidders.
The company's financial advisers, Lehman Brothers and JPMorgan, were directed to begin contacting potential bidders.
With the FCC and Nextwave embroiled in litigation, Verizon asked the FCC to return its down payment, since the spectrum space has not been released to the winning bidders.
In contrast to the frequently negative or neutral returns to bidders from merger announcements, eight of nine studies that analyze the merger announcement effect on the target bank find a positive return to target stockholders, and one study finds no abnormal return.
The Board adopted these procedures to obtain the best value for Paramount stockholders and to provide a means for stockholders to exercise their choice, while providing a fair and level playing field for all bidders.
During the auction, each of the bidders made several improved bids.
slapped Conseco, Macklowe Properties, Eastdil Realty, which brokered the sale, and heavyweight investor, George Soros, who it alleges controls the property, with a suit claiming that the defendants conspired to exclude other bidders and conduct the building's sale amongst themselves.
But the two bidders competing for the project failed to provide liability insurance for the 70-year life of the school - a key component of LAUSD's plans to provide assurance that health risks were minimized.
Auctions of companies are conducted in ways that contradict received auction theory The major puzzles are: (1) sellers restrict the number of bidders; (2) sellers restrict the number of bidders; (3) bidders are screened by an initial round of nonbinding bids; and (4) bidders offer--and sellers sometimes accept--preemptive bids.
However, inasmuch as the Board appears to have a different structure in mind, in order to be constructive, we have the following modifications that should be included in the Procedures to be fair to both bidders and to provide some assurance that the highest value will in fact be received by the shareholders: