Legal Definitions - public sale

A public sale is a type of sale that is made after public notice, such as an auction or sheriff's sale. It is a sale to which the public has been invited by advertisement to appear and bid at auction for the items to be sold.

For example, a government agency may hold a public sale to sell off surplus equipment or vehicles. The agency will advertise the sale in advance, and members of the public can attend the sale and bid on the items being sold.

Another example is a foreclosure sale, which is a type of public sale conducted to sell mortgaged property to satisfy the debt. The sale is authorized by a court decree or a power-of-sale clause.

Overall, a public sale is a transparent and open way to sell goods or property to the highest bidder, and it allows for fair competition among potential buyers.