Legal Definitions - licitari

Term: Licitari
Definition: Licitari is a Latin term used in Roman law which means to bid for an item, especially repeatedly during the same sale. It is also known as liceri. Examples:

• During an auction, a bidder may licitari on a particular item to increase the price and outbid other potential buyers.
• When a seller sets a reserve price for an item, bidders may need to licitari until the price reaches the reserve and the item can be sold.

These examples illustrate how licitari is used in the context of bidding for items during a sale or auction. It emphasizes the act of repeatedly bidding to increase the price of an item and potentially outbid other buyers.