gazumping
C2CEFR level
93/100Rarity: very rare
TechnicalRegister
Law noun
The seller's practice of accepting a higher offer after already accepting a buyer's offer but before exchange of contracts.
Because English sales bind only on exchange, gazumping left the disappointed buyer with no remedy.
Business noun
A seller's acceptance of a higher late offer after already agreeing terms with another buyer.
We were gazumped a week before exchange when a cash buyer came in ten grand over us.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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