Sale Of Goods Act, 1930
64. Auction sale.—
In the case of sale by auction— (1) where goods are put up for sale in lots ... subject of a separate contract of sale; (2) the sale is complete when the auctioneer announces its completion by the fall of the hammer
price of the
auctioned property to go up considerably. On the other hand, where the
auction-sale is by banks or financial institutions, courts ... prices of lands
fetched in auction had been ignored on the basis that prices fetched in
auction-sales cannot form the basis. It was submitted
having found the auction in
accordance with law and for adequate price and
there being no other objection, confirmed the
auction sale in favour ... view the
fact that a Court sale is a forced sale and,
notwithstanding the competitive element of
public auction, the best price is not often
para 231 at page 102:
"231 Auctions.-At auction sales, it is a long-
established rule that prima facie the auctioneer's
request ... auctions generally in the absence of special
conditions prescribed by the auctioneer governing the
auction. According to him it was well-settled that an
auctioneer
aside;
(ii) The auction purchaser is entitled to refund of the monies paid by him
towards the auction sale which is now set aside ... have confirmed
the sale, obviously all actions taken in pursuance of confirmation of sale,
such as, issuance of sale certificate, registration of documents, etc.
would
sale and on the day of
sale prior to the commencement of the sale). Such proclamation shall, where
attachment is required before sale, be made ... auction-purchaser.
However, where the auction is subject to subsequent confirmation by some
authority (under a statute or terms of the auction) the auction
share had come to an end and, consequently,
at the auction sale the share of the' sons did not pass to
the auction purchaser ... family. The evidence consisting of the notice for
sale, the proclamation of sale and the sale certificate
showed that the whole of the property
perusal of the auction notice
and auction records would disclose that it was not done so and the auction
sale is a complete sham ... further be noted that the proposed auction was also
challenged as an application for injunction restraining the auction
sale was filed before the District Court
conduct of sale. Thereafter the Court
pertinently observed: And where a court mechanically
conducts the sale or routinely signs assent to the sale
papers ... auction sale which
reads thus: The High Court may set aside the sale in
favour of Purchaser/Purchasers even after the sale is
confirmed
doubt that when the decree-holder
himself is the auction-purchaser in a court auction
sale held in execution of a decree which is
subsequently ... fide purchaser in auction. Para 16 reads as
under:
"16. The distinction between a stranger who
purchases at an auction sale and an assignee
