From: Ronald Raygun 
Subject: Re: Ways to sell a small letting business i.e., investment property.
Newsgroups: uk.finance
Date: Sun, 25 Feb 2007 11:33:06 GMT

tim..... wrote:

> "Ronald Raygun"  wrote
>> 
>> Further to this, it occurs to me that *if* bidding on a flower pot
>> does in fact create a binding agreement to buy the item, then
>> there is really no reason why bidding on real property should not
>> do the same.
>>
>> If statute prescribes certain hoops that must be jumped through
>> to achieve a binding transfer of land, then pressing ebay buttons
>> will not by itself achieve that [and neither, presumably, will
>> bidding at a "proper" auction].
> 
> You are right.  At the end of the auction you are presented
> with a piece of paper and told 'sign here'.
> 
> Now you have the binding contract.

What if you get cold feet and refuse to "sign here"?  Don't the
T&Cs of the auction (I gather you are required to register and
sign that you accept the T&Cs before even being allowed to bid)
*require* you to sign, and therefore, should you refuse, lay you
open to a law suit?