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Simple English definitions for legal terms

offer for sale by tender

Read a random definition: special-duty exception

A quick definition of offer for sale by tender:

An offer for sale by tender is a type of auction where potential buyers submit sealed bids for a property or item. The seller sets a minimum price, and interested buyers submit their best offer in a sealed envelope. The seller then reviews the bids and chooses the highest one. This type of auction is often used for high-value items or properties where the seller wants to maintain privacy and control over the sale process. It is similar to a Dutch auction, where the price is gradually lowered until a buyer is found, but in a tender offer, the price is set by the seller and the buyers compete to offer the highest amount.

A more thorough explanation:

An offer for sale by tender is a type of auction where potential buyers submit sealed bids for a property or item. The seller then reviews the bids and chooses the highest one. This type of auction is also known as a Dutch auction.

  • A homeowner wants to sell their house and decides to use an offer for sale by tender. They set a deadline for bids and interested buyers submit their offers in sealed envelopes. The homeowner reviews the bids and chooses the highest one.
  • A company wants to sell a piece of equipment and uses an offer for sale by tender. Potential buyers submit their bids and the company chooses the highest one.

These examples illustrate how an offer for sale by tender works. Interested buyers submit their bids in a sealed envelope, which ensures that the bids are confidential. The seller then reviews the bids and chooses the highest one, which is the winning bid.

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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