18:51
join the ethically ambiguous legal field instead
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
blind-bidding
Read a random definition: concessus
A quick definition of blind-bidding:
Blind-bidding is when movie distributors make theater owners bid for and book movies without letting them see the movie first. Some states have laws against this. Blind-selling is when goods are sold without letting the buyer examine them. A blind tiger or blind pig is a place where illegal alcohol is sold, which was common during Prohibition. A bloc is a group of people or political units that have a common interest or purpose.
A more thorough explanation:
Definition: In the movie industry, blind-bidding is the practice of film distributors requiring theater owners to bid for and book movies without having seen them. Some states have laws against this practice.
Example: A movie distributor tells a theater owner that they have a new movie coming out and the theater owner must bid on it without knowing anything about the movie. The theater owner is taking a risk by bidding on a movie they have not seen.
Explanation: Blind-bidding is a risky practice because the theater owner is committing to showing a movie without knowing if it will be successful or not. This can lead to financial losses if the movie does not do well at the box office. Some states have laws against this practice to protect theater owners from taking on too much risk.