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licitation

 
Dictionary: Lic·i·ta·tion

n. (lĭs`ĭ*tā"shŬn)

[L. licitatio, fr. licitari, liceri, to bid, offer a price.]
The act of offering for sale to the highest bidder. [R.]


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the act of selling or bidding at auction
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pronunciation

IN BRIEF: The act of offering for sale or bidding at an auction.

 
 
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