bid

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Related to Best Bid: Best Ask

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 Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.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 ?
He said: "We will compete very successfully with the other bids and there will be no doubt by the end of it that we have produced the best bid.
If the best bid wins then England will stage the World Cup in 2006.
Such a tool would let investors, both individual and institutional, view quotes of and execute trades against the best bid or offer among all of the ECNs and market makers.
LONDON -- Reuters (NASDAQ:RTRSY)(LSE:RTR) is offering clients the ability to see the best bid and offer price on major stocks wherever they are quoted from today.
We should have won it, we had the best bid, that was generally accepted.