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Alex Lyon & Son, Sales Managers & Auctioneers V. Leach: Auction Contracts, Bidder Qualifications, Offer And Acceptance, Waiver, And The Fallacy Of Treating All Bidders The Same, George A. Michak
West Virginia Law Review Online
In Alex Lyon & Son, Sales Managers & Auctioneers v. Leach, 844 S.E.2d 120 (W. Va. 2020), the Supreme Court of Appeals of West Virginia grappled with the contractual relationships among participants in an auction transaction and rendered an opinion that (i) misstates and misaligns the rights and obligations among auctioneers, sellers, bidders, and buyers, (ii) impedes the ability of an auctioneer to reasonably control the conduct of an auction, and (iii) threatens to artificially circumscribe the prerogative of sellers and auctioneers to assume greater risks relative to certain bidders in an effort to expand the bidder pool in …