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 Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.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 new rules Bidders will be required to self-certify whether they have had any 'occasions of non-compliance' during the previous 10 years.
The seller's benefits to a good reputation can come in two forms: an auction can be more likely to attract bidders and thus result in a sale and bidders can be willing to bid larger amounts.
In addition, state agencies must obtain information from bidders about any findings of non-responsibility made within the previous four years by any other governmental entity and if the finding of non-responsibility was due to: (1) engaging in impermissible contacts during a black out period, or (2) intentional provision of false or incomplete information to a governmental agency.
BEI noted the qualified bidders interested in the company will be part of a "fair and open process.
However, the size of the market would be limited if all potential bidders had to be online at the same time, and for this reason, most auctions are conducted over a period of days, often a week.
According to the FCC's decision: "Winning bidders from Auction 35 have been forced to treat their obligations as contingent liabilities without deriving any benefit from the underlying asset.
First, and least subject to debate, is that the financial market response to a merger announcement, in terms of abnormal returns to stockholders, reflects expectations about all of the elements (not only efficiency) that may influence the general performance results of a merger as well as differences in expectations between investors and bidders.
In the competing bid the Konami Bidder offered to purchase substantially all of the assets of the Company in a transaction under Section 363 of the Bankruptcy Code.
Solow, who states that he was a bidder during the 2003 auction, is seeking millions in damages and also potentially a nullification of the sale.
26, has struggled to attract bidders for completing the school, which was abandoned by the school board in 1999 because of health and safety questions posed by toxic gases seeping from old oil wells beneath the downtown site.