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AUCTIONEER Definition & Legal Meaning

Law dictionary entry - legal definition of embargo

Definition & Citations:

A person authorized or licensed by law to sell lands or goods of other persons at public auction; one who sells at auction. Crandall v. State, 28 Ohio St. 481; Williams v. Millington, 1 H. Bl. 83; Russell v. Miner, 5 Lans. (N. Y.) 539. Auctioneers differ frbm brokers, in that the latter may both buy and sell, whereas auctioneer can only sell; also brokers may sell by private contract only, and auctioneers by public auction only. Auctioneers can only sell goods for ready money, but factors may sell upon credit. Wilkes v. Ellis, 2 H. Bl. 557; Steward v. Winters, 4 Sandf. Ch. (N. Y.) 590.

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