Scott it's 2-328 of the UCC. I am trying to figure out how it works, I confess I was not aware of it previously. One thing that I am reading in commentary is that if someone does retract, then ALL bids are gone, that does not reinstate the next highest bidder. WTF. Edit to add that's right in the statute:
a bidder's retraction does not revive any previous bid
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Last edited by Peter_Spaeth; 06-22-2017 at 07:00 PM.
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