Legal Definitions - licitari

Licitari refers to the act of making an offer to purchase an item or service, particularly in a competitive setting like an auction. It specifically emphasizes the repeated nature of such offers within the same sale, as participants vie against each other to secure the desired item. This term originates from Roman law.

Here are some examples to illustrate the concept of licitari:

• Imagine an art collector attending a live auction for a rare painting. As the bidding opens, the collector raises their paddle to make an initial offer. When another bidder surpasses their price, the collector promptly raises their paddle again with a higher bid. This back-and-forth continues several times, with the collector repeatedly increasing their offer in an attempt to outbid competitors and acquire the painting. This series of escalating offers by the collector perfectly demonstrates licitari.

• Consider an online auction for a vintage comic book. A passionate collector places a bid for the item. As the auction timer counts down, another user places a higher bid. The first collector immediately responds by placing an even higher bid, and this exchange of increasing offers continues between the two individuals until one ultimately secures the item or reaches their maximum spending limit. The repeated submission of higher bids by the collector during this single auction event is an example of licitari.

• Think about a real estate auction where multiple developers are competing for a desirable plot of land. One developer makes an opening bid. As other developers submit higher offers, this developer consistently responds by raising their own bid, determined to acquire the property. They might increase their offer several times over the course of the auction, each time trying to top the previous highest bid. This repeated act of making progressively higher offers for the land within the same sale event is a clear instance of licitari.