In the civil law . An offering for sale to the highest bidder, or to him who will give most for a thing. An act by which co-heirs or other co-proprietors of a thing in common and undivided between them put it to bid between them, to be ad- judged and to belong to the highest and last bidder, upon condition that he pay to each of his co-proprietors a part in the price equal to the undivided part which each of the said co- proprietors had in the estate licitcd, before the adjudication . Poth. Cont. Sale, nn. 510, 63S.
Black’s Law Online Dictionary
