MIAMI AVIATION SERVICE V. GREYHOUND LEASING & FINANCIAL CORP.
856 F.2d 166 (1988)
NATURE OF THE CASE: Miami (P) appealed a decision that held Greyhound's (D) auction of an airplane and airplane engines was with reserve, thereby making it appropriate for D to bid on the items.
FACTS: This was about an auction of an aircraft and two aircraft engines. The auction was advertised by D through public notice. At the auction, the auctioneer stated that sale would be to the highest bidder and that no minimum bid would be required. P bid $1 million dollars. Thereupon, D bid $3.3 million dollars and took the aircraft and engines. The court held that the action was without reserve and D could bid. P appealed.
ISSUE:
RULE OF LAW:
HOLDING AND
DECISION:
LEGAL ANALYSIS:
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