BID, contracts. A bid is an offer to pay a specified price for an article 
about to be sold at auction. The bidder has a right to withdraw his bid at 
any time before it is accepted, which acceptance is generally manifested by 
knocking down the hammer. 3 T. R. 148; Hardin's Rep. 181; Sugd. Vend. 29; 
Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 
Penn. St. R. 486; 8, Id. 408. Vide 0@ffer.