| 单词 | Reserve price |
| 释义 | 保留價 A minimum price fixed or ‘reserved’ by a vendor at an auction, below which the vendor is not prepared, and an auctioneer is not authorised, to sell. In an auction subject to a reserve price, the sale is subject to the highest bid reaching the reserve: Boulas v Angelopoulos (1991) 5 BPR 11, 477. An auctioneer must not agree to sell to any person who does not bid at or above the reserve price and if he does so, the contract for sale is not binding: McManus v Fortescue [1907] 2 KB 1; Kwok Lai Ting v Hughes & Hough (1922) 17 HKLR 51. However, in an auction, there is no obligation on the part of the mortgagee to fix the reserve price to the advantage of the mortgagor: Tse Kwong Lam v Wong Chit Sen & Ors [1977-79] 1 HKC 21. The auctioneer is under a fiduciary duty not to release or indicate the reserve price to anyone without the seller’s authority. Prospective bidders should be notified that sale is subject to the reserve price being reached: McManus v Fortescue [1907] 2 KB 1; Sale of Land by Auction Ordinance (Cap 27) s 3(1). Also known as ‘upset price’. See also Auction; Auctioneer; Authority; Vendor; Without reserve. 拍賣中，賣家所定的最低價或賣家「保留」的最低價，在低於此價格，賣家不會出售而拍賣人亦未獲授權出售。受保留價所限的拍賣，出售必須是在達到保留價的最高競投作出：Boulas v Angelopoulos (1991) 5 BPR 11,477。拍賣人必須不能同意向沒有在保留價或以上作出競投的人出售，如他這樣做，售賣合約則不具約束力：McManus v Fortescue [1907] 2 KB 1；Kwok Lai Ting v Hughes & Hough (1922) 17 HKLR 51。但在拍賣中，作為承押人的沒有義務為有利抵押人而設定保留價：Tse Kwong Lam v Wong Chit Sen & Ors [1977-79] 1 HKC 21。未得到賣家的授權，拍賣人有受信責任不向任何人透露或顯示保留價。準競投人應被通知出售必須達到保留價：McManus v Fortescue [1907] 2 KB 1；《土地拍賣條例 》（第27章）第3(1)條。另稱「最低售價」。另見 Auction; Auctioneer; Authority; Vendor; Without reserve。 |
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