47. Damping the sale and bidding agreements.

Improper or fraudulent acts, which are likely to prevent the property put up from realising its fair value and to 'damp' the sale, will invalidate any purchase by persons guilty of or privy to such acts, so that the buyer will be disentitled to specific performance and the auctioneer1 will be justified in withdrawing the property2. Furthermore, if a person maliciously makes false statements with the consequence that no sale results, the unsuccessful seller can sue for malicious falsehood3.

At common law, an agreement between two or more persons not to bid against each other at an auction, even if

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