Winning an auction -- third posting!

Regarding these threads. Does it really take two weeks to dig up a link to (or the text of) the "binding contract" a user supposedly enters into when they bid on an auction? How do you expect users to make an informed decision when the terms of such a so-called "binding contract" are unknown?

I'm sure Ginsu will tell you that a contract entered into without the ability of one party to inspect the terms and conditions is unenforceable. So, once again I ask, "where can we view the text of the 'binding contract' a user supposedly enters into when bidding on an auction?"

Not all agreements are written, and not all contracts are on paper.

The auction rules say that when you make a bid, you are agreeing to pay a specific amount for the land that is described by the auction. That agreement is binding, i.e. you cannot retract your bid.

This process is not unlike the one used by eBay, which also does not require a written contract between buyer and auction house in advance. However, they also describe the fact that you must live up to the obligation you incur with your bid as a "binding contract". For more details, please see: http://pages.ebay.com/help/policies/invalid-bid-retraction.html.