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 Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.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 ?
The commander will not know how many vendors will bid or their qualifications.
That's right, if you bid, for example, 27cent and it is the lowest bid which no-one else has chosen, you could walk away the with this fabulous Sanyo system for that amount (plus the cost of your text message).
The LIC BID includes all properties fronting Queens Plaza North and South from 21st Street to Queens Plaza East, and all properties along both sides of Jackson Avenue between 45th Avenue/Thomson Avenue and Queens Plaza.
I was told the quote came from Richard Briffault's four-year-old law review article on BIDs, where Briffault quoted from a 15-year-old publication that has been revised and updated twice.
Figure 1 shows the empirical cumulative probability distribution of the timing of bidders' last bids in a sample of 308 eBay auctions of computers and antiques with a total of 1339 bidders.
Too often we hear about the fax machine clogging up at bid deadline.
When TEC officials asked whether it would be a problem if they worked both for the school and submitted a Belmont bid, ``the Superintendent's Office stated it wouldn't be a problem and welcomed their participation,'' Mullinax said.
Late bids are the subject of a thousand stories some beyond belief.
The Treasury could collect sealed bids, arrange them by price, and award all the securities at a single price that just places the entire issue (diagram 2).
By working to improve business conditions and quality of life, BIDs are a proven example of how public/private partnerships can promote economic development," said Bloomberg, who was joined at the announcement by Department of Business Services commissioner Robert Walsh.
In my mind a rookie is someone with less than ten years of experience or less than $100 million in bids won.
We sincerely hope that city government will reconsider its action in throwing out the bids and award the contract to House of Blues Concerts.