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Publicity
Article 337
The seller shall provide publicity of the auction terms by announcement in at least one daily.
Binding Force of Proposal
Article 338
A participant in the auction shall be bound by his proposal in compliance with the terms of the auction.
Assignment of the Goods
Article 339
The person who conducts the bidding shall assign the goods to the bidder who has offered the highest price. The sale shall be considered concluded by assignment of the goods.
Payment
Article 340
The buyer shall be bound to pay the price immediately, unless otherwise provided by the terms of the auction. The seller may cancel the contract if the buyer fails to fulfill this obligation.
Nullification of Sale
Article 341
An auction sale concluded as a result of acts contrary to the law or good morals may de declared null and void upon the request of any interested party, within ten days following the assignment. In the case of an action for payment of the price, the buyer may demand nullification of the sale by means of an objection.
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