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This was the highest price bid. The auctioneer had raised his hammer but M informed the auctioneer that she wants to withdraw her bid. With

This was the highest price bid. The auctioneer had raised his hammer but M informed the auctioneer that she wants to withdraw her bid.

With reference to the Contracts Act 1950 or any decided cases, advise M whether any contract has been formed.

Would your advice be different if M withdrew after the fall of the hammer.

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