Miami Aviation Service v. Greyhound Leasing & Financial Corp.
United States Court of Appeals for the Eleventh Circuit
856 F.2d 166 (1988)
Relevant factsFree
Greyhound Leasing & Financial Corp. (defendant) put an aircraft and two aircraft engines up for auction. The auctioneer announced there was no minimum bid and that the sale would go to the highest bidder, but never stated the auction was 'without reserve.' Greyhound itself ended up being the highest bidder and took possession of the aircraft and engines.
IssueFree
Whether, absent an explicit statement that an auction is 'without reserve,' the auctioneer may withdraw goods from the auction, including by the owner placing a bid, at any time before the sale is announced complete.
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