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Simple English definitions for legal terms

upset price

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A quick definition of upset price:

Upset price: The upset price is the minimum price that an item can be sold for at an auction. It is the starting point for bidding and if no one bids higher than the upset price, the item will not be sold. Think of it like a floor price that cannot be lowered.

A more thorough explanation:

Definition: The minimum price that a seller is willing to accept for an item being sold at an auction. If the bidding does not reach the upset price, the item will not be sold.

Example: A painting is being auctioned off with an upset price of $10,000. Bidding starts at $5,000 and gradually increases to $9,000. However, no one is willing to bid higher than $9,000, which is below the upset price. As a result, the painting remains unsold.

Explanation: The example illustrates how the upset price serves as a safeguard for the seller, ensuring that they do not sell their item for less than they are willing to accept. In this case, the seller was not willing to accept less than $10,000 for the painting, so the auction was unsuccessful as the bidding did not reach that amount.

upset bid | upside

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General

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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