Source: https://mikebrandlyauctioneer.wordpress.com/2012/10/03/uniform-sales-act-of-1906/?shared=email&msg=fail
Timestamp: 2020-07-11 12:23:52
Document Index: 325956020

Matched Legal Cases: ['§ 21', '§ 21', '§ 21', '§ 2', '§ 21', '§ 2', '§ 21', '§ 2', '§ 21']

Uniform Sales Act of 1906 | Mike Brandly, Auctioneer Blog
Uniform Sales Act of 1906
1906, auction, Auction Law, auctioneer, auctioneers, auctions, § 21, harvard law school, Samuel Williston, UCC 2-328, Uniform Sales Act
Samuel Williston (1861 – 1963) was a famed lawyer and law professor.
His accomplishments included helping to formulate the state constitutions of North Dakota and South Dakota, private secretary to U.S. Supreme Court Justice Horace Gray, Harvard Law School Professor, and regarded author on contract law and treatise.
Among Williston’s most known works is “Williston on Contracts,” which is still published today, as edited by Richard A. Lord.
We have written about Samuel Williston twice before:
https://mikebrandlyauctioneer.wordpress.com/2012/08/05/obligate-backup-bidder-until-high-bidder-signs/
The Uniform Sales Act, drafted by Professor Williston, was a precursor to Article 2 of the Uniform Commercial Code. Between 1906 and 1947 it was adopted in 34 states.
§ 21 [Sale by Auction.] In the case of sale by auction
(1.) Where goods are put up for sale by auction in lots, each lot is the subject of a separate contract of sale.
Work on the Uniform Commercial Code began in 1942, being ultimately published in 1952; by 1967 the Uniform Commercial Code was adopted by 49 states (in part by Louisiana, later.)
So, what rules did auctioneers in the United States act under when bid calling prior to the 1960’s? The Uniform Sales Act of 1906 § 21.
How are the rules under § 2-328 of the Uniform Commercial Code different than § 21 of the Uniform Sales Act of 1906? Let’s take a look. § 2-328:
Adds the text involving, “Where a bid is made while the hammer is falling.”
Makes it clear that the “with reserve” auction is the default type of auction.
Clarifies that the goods may be withdrawn prior to being “put up for auction” independent of the auction being with reserve or without reserve.
Permits retraction of bids in auctions both with reserve and without reserve.
Explicitly notes that the retraction of a bid does not revive a prior bid.
Further details the remedies for a buyer who has won an item where the seller bid without authority.
The Uniform Sales Act of 1906 § 21, was an important precursor to the Uniform Commercial Code § 2-328.
For auctioneers operating in the United States prior to the 1960’s, § 21 provided a sound outline for auction structure and bid calling practice. Further, how interesting that we’ve had such rules now for over 100 years.
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