Cuba v. Hudson & Marshall, Inc.

Pope, Chief Judge.

Defendants are auctioneers who conducted an auction of real estate for the Resolution Trust Corporation (“RTC”). Plaintiffs attended the auction and were the high bidder for a particular parcel, Property No. 230. After the bidding was ended by the fall of the auctioneer’s hammer, however, plaintiffs were told that the RTC rejected their bid. Plaintiffs sued defendants for damages, and after discovery, plaintiffs and defendants filed cross-motions for summary judgment. The trial court denied plaintiffs’ motion and granted defendants’, and plaintiffs appeal from both rulings.

Th…