Upset Price
UPSET PRICE
The dollar amount below which property, either real or personal, that is scheduled for sale at an auction is not to be sold.
An upset price is intended as a minimum price. In a decree for a judicial sale, it constitutes a direction to the officer conducting the sale not to accept any bid that falls below the fixed price. In a final decree in a foreclosure sale, an upset price should be sufficient to cover costs and allowances made by the court, the certificates and interest of the receiver, and any liens in existence.
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Price , price / prīs/ • n. the amount of money expected, required, or given in payment for something: land could be sold for a high price | a wide selection… Prices , Prices
For the general considerations underlying the determination of individual prices, seeDemand and supplyandUtility. The first article presented… Fisher-price Inc , Fisher-Price Inc.
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Web site… Pricing , Pricing is the process of determining and applying prices to goods and services. The price is the monetary cost of the product (the good or service)… Price-Fixing , PRICE-FIXING
The organized setting of what the public will be charged for certain products or services agreed to by competitors in the marketplace in… Auctions , A sale open to the general public and conducted by an auctioneer, a person empowered to conduct such a sale, at which property is sold to the highest…
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Upset Price