Maine Revised Statutes > Title 32 > Chapter 5-B – Auctioneers
Current as of: 2023 | Check for updates
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Other versions
| Sections | ||
|---|---|---|
| Subchapter 1 | General Provisions | 284 – 287-A |
| Subchapter 2 | Board | 288 – 291-A |
| Subchapter 3 | Licensing Qualifications | 292 – 299-A |
Terms Used In Maine Revised Statutes > Title 32 > Chapter 5-B - Auctioneers
- Auction: means the offering of goods or real estate for sale by means of exchanges between an auctioneer and bidders. See Maine Revised Statutes Title 32 Sec. 284
- Auctioneer: means any person who conducts, advertises or offers that person's service to conduct auctions; contracts or offers to contract with consignors of real or personal property, with or without receiving or collecting a fee, commission or other valuable consideration; or sells or offers to sell property at auction. See Maine Revised Statutes Title 32 Sec. 284
- Bid: means an offer to buy. See Maine Revised Statutes Title 32 Sec. 284
- Board: means the Board of Licensing of Auctioneers, as established by Title 5, section 12004?A, subsection 5. See Maine Revised Statutes Title 32 Sec. 284
- Chief judge: The judge who has primary responsibility for the administration of a court but also decides cases; chief judges are determined by seniority.
- Completion of the sale: means the acceptance of the final bid by the auctioneer as indicated by the fall of the hammer or in another customary manner. See Maine Revised Statutes Title 32 Sec. 284
- Consignor: means the bona fide owner, agent or party in interest of the personal property or real estate being offered for sale. See Maine Revised Statutes Title 32 Sec. 284
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Grantee: means the person to whom a freehold estate or interest in land is conveyed. See Maine Revised Statutes Title 1 Sec. 72
- Grantor: The person who establishes a trust and places property into it.
- Grantor: means the person who conveys a freehold estate or interest in land. See Maine Revised Statutes Title 1 Sec. 72
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Municipality: includes cities, towns and plantations, except that "municipality" does not include plantations in Title 10, chapter 110, subchapter IV; or Title 30?A, Part 2. See Maine Revised Statutes Title 1 Sec. 72
- Open areas: means any space or area the preservation or restriction of the use of which would:
A. See Maine Revised Statutes Title 30-A Sec. 2001Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses. Person: means an individual. See Maine Revised Statutes Title 32 Sec. 284 Person: means an individual, corporation, partnership, firm, organization or other legal entity. See Maine Revised Statutes Title 30-A Sec. 2001 Real estate: means land and structures attached to it. See Maine Revised Statutes Title 30-A Sec. 2001 Real estate: includes lands and all tenements and hereditaments connected therewith, and all rights thereto and interests therein. See Maine Revised Statutes Title 1 Sec. 72 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Reasonable period of time: means not more than 30 days from the date of the auction or such other time as is stated in a contract. See Maine Revised Statutes Title 32 Sec. 284 Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims. Statute of limitations: A law that sets the time within which parties must take action to enforce their rights. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC With reserve: means that the consignor reserves the right to establish a minimum bid, to accept or reject any bid and to withdraw the property at any time prior to the announcement of the completion of the sale by the auctioneer. See Maine Revised Statutes Title 32 Sec. 284 Without reserve: means that no minimum opening bid or other condition that limits the sale other than to the highest bidder is required and that the consignor may not modify or nullify the sale by bidding either personally or through a representative. See Maine Revised Statutes Title 32 Sec. 284