Quote:
Originally Posted by Snapolit1
Well, not to get overly arcane here, but there are legal doctrines under the common or statutory law and arguments based in notions of equity. An equitable argument could be that while this was some act was not technically illegal under a specific law it was unfair under principles of fundamental fairness and should not be allowed to stand.
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Problem is it is specifically elucidated as legal in the UCC auction section. Notification is necessary, and the terms and conditions serve that purpose.
"If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes or procures such a bid, and notice has not been given that liberty for such bidding is reserved, the buyer may at his option avoid the sale or take the goods at the price of the last good faith bid prior to the completion of the sale."