Legal Definitions - hammer

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Definition of hammer

Definition: A forced sale at public auction.

Example: Her jewelry was brought to the hammer.

Explanation: This means that the jewelry was sold at a public auction because the owner was forced to sell it. The term "hammer" refers to the auctioneer's tool used to signal the end of bidding on an item. This example illustrates the definition by showing how the term "hammer" is used in the context of a forced sale at public auction.

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Simple Definition

A hammer is a slang term for a forced sale, which is when someone has to sell something at an auction. A sale is when someone transfers ownership of something to another person in exchange for money. There are different types of sales, like a cash sale where the buyer pays at the same time they receive the item, or a credit sale where the buyer pays later. A forced sale can happen when someone is in financial trouble and has to sell their belongings.

hamlet | hanaper Read a random term: felon in possession

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