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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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.

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 Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn.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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
Wildish or it's affiliates may elect to submit bids on bid packages: 01, 02, 05 & 21.
Its lone rival for the project, Indra Sistemas SA was disqualified after it submitted a nonresponsive bid, said the awards committee.
Attendees develop basic to intermediate skills in: interpreting complex bid documents, writing professional proposals that meet mandatory requirements, and creating compelling solutions for buyers.
Already Lowest Unique Bid Response: You will get this response if the bid you have sent earlier is already Lowest Unique.
On a daily basis, the contract manager is responsible for preparing numerous bids for different products.
Follow our step-by-step guide on how to place your bid. It's really good fun - just have a go....
Smaller Italian airline Meridiana, which is controlled by Prince Karim Aga Khan, is also expected to put in a bid for Alitalia, according to press reports.
The evening shift commander returned from a meeting to find a note from the chief requesting that he immediately prepare a sealed bid for 10 new, front-wheel drive, 4-door patrol cars.
STEP 1 Think of a bid in pence - for example pounds 1.75 would be 175 pence.