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LSDefine

Simple English definitions for legal terms

offer for sale by tender

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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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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