11:43
Personal stuff with my ex :/. I wanted to vent to strangers on the internet lol
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Simple English definitions for legal terms
Public auction
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A quick definition of Public auction:
Public auction: A type of sale where the government sells things that belong to them or things that they took from someone else because they didn't follow the rules. People can come and bid on the items they want to buy.
A more thorough explanation:
A public auction is a type of auction that is held on behalf of the government to sell either government-owned property or private property that was seized by the government. This type of auction is usually held to recover unpaid taxes, fines, or other debts owed to the government.
For example, if a person fails to pay their property taxes, the government may seize their property and sell it at a public auction to recover the unpaid taxes. Another example is when a person is found guilty of a crime and their assets are seized by the government as part of their punishment. These assets may be sold at a public auction to help pay for the cost of the trial and other related expenses.
Public auctions are open to the public and anyone can bid on the items being sold. The highest bidder at the end of the auction is usually the one who gets to purchase the item. Public auctions can be a great way to find unique items at a discounted price.