Examlex
Define and provide an example of denotative and connotative meaning.
Highest-value Bidder
The participant in an auction willing to pay the most for the item up for bid.
English Auction
A public sale method where bids are openly made and raised until no higher bid is offered, with the highest bidder purchasing the item.
Sealed Auction
An auction format in which all bids are submitted simultaneously in sealed envelopes, and the highest bid wins without bidders knowing the bid amounts of others.
Oral Auction
In this auction type, bidders submit increasing bids until only one bidder remains. The item is awarded to the last remaining bidder.
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