Legal Theory of Auction

The traditional tripartite concept of auction is too narrow and does not correspond to the actual structure of auction relations, as demonstrated by the book. It explores the legal concept of auction sale and the structure of accompanying relations, providing a historical overview of auctions and different auction models. It also examines the legal position of key auction figures and auction objects to identify the categories of legal relations that appear at auction, including droit de suite, financial and bidding agreements.

Format: Hardback
Length: 224 pages
Publication date: 09 September 2022
Publisher: Taylor & Francis Ltd

The conventional perception of auction structure views auction as comprising three distinct contracts: one between the seller and the auctioneer, another between the auctioneer and the buyer, and lastly, the sale contract between the seller and the buyer. However, this book challenges this notion by arguing that the traditional tripartite concept of auction is overly simplistic and fails to accurately reflect the intricate structure of auction relations. By highlighting that an auction comprises a multitude of legal relationships, encompassing both contractual and noncontractual aspects, this book delves into the legal concept of auction sale and the framework of accompanying relations. Providing a comprehensive historical overview of auctions and various auction models, the book examines these models against key legal criteria such as price formation, publicity, parties' autonomy, legal form, and applied technology. This examination aims to identify the legal concept and nature of auction.

The book further explores the legal position of key auction figures and auction objects to categorize the various types of legal relations that emerge during auctions. It examines the legal nature of the primary contract, as well as the relationships between the consignor, the auctioneer, the bidders, and the bidders themselves. Additionally, the book covers relations arising from droit de suite, financial and bidding agreements, providing a comprehensive overview of lesser-known legal relations that frequently occur in auction practice.

In conclusion, this book offers a fresh perspective on auction structure by challenging the conventional tripartite concept and highlighting the diverse legal relationships that underpin auctions. By examining auction models against legal criteria and exploring the legal positions of key figures and objects, the book provides a comprehensive understanding of the legal concept and nature of auction, as well as the broader legal relations that arise in auction practice.

Weight: 620g
Dimension: 234 x 156 (mm)
ISBN-13: 9781032079196