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KembaraXtra – Legal Terms – Knock-Out Agreement
A knock-out agreement is an arrangement between bidders at an auction not to compete against each other, often with the intention of keeping prices artificially low.
Such agreements are illegal because they distort fair competition and undermine the integrity of the auction process. They may constitute anti-competitive behaviour and can result in legal penalties. The law seeks to ensure that auctions remain transparent and competitive.
A knock-out agreement is an arrangement between bidders at an auction not to compete against each other, often with the intention of keeping prices artificially low.
Such agreements are illegal because they distort fair competition and undermine the integrity of the auction process. They may constitute anti-competitive behaviour and can result in legal penalties. The law seeks to ensure that auctions remain transparent and competitive.
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