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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, 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 Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.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 ?
In a press conference on Tuesday, Comelec Chair Andres Bautista said the commission was exploring all options available to them following the failed bidding for the repair and refurbishment of the PCOS machines.
Bidding for prizes will close at midnight on the day of publication.
-SO get bidding for the Home Entertainment goodies or pounds 10K Kitchen (or both) now!