e/Payne v Cave

Information
has gloss	eng: Payne v Cave (1789) 3 TR 148 is an old English contract law case, which stands for the proposition that an auctioneers request for bids is not an offer (an invitation to treat instead) which can be accepted by the highest bidder. In other words, the court held (in effect) that the auctioneers request for bids was an invitation to treat, and each bid constituted an offer which could be withdrawn at any time until its accepted, and finally, the fall of the auctioneers hammer constituted acceptance of the highest bid.
lexicalization	eng: Payne v Cave
lexicalization	eng: Payne v. Cave
instance of	c/English agreement cases