Lic′i‐ta″tion (lĭs′ĭ‐tā″shŭn), n. [L. licitatio, fr. licitari, liceri, to bid, offer a price.] The act of offering for sale to the highest bidder.
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Webster's Dictionary 1913
Webster's Revised Unabridged Dictionary, C. & G. Merriam Co., 1913.