gazump - definition in the Business English Dictionary - Cambridge Dictionaries Online

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English definition of “gazump”

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gazump

verb [T usually passive]
 
 
/ɡəˈzʌmp/ PROPERTY
to refuse to sell a house that you own to someone you have agreed to sell it to, and to sell it instead to someone who offers to pay more for it: Sally's offer for the house has been accepted, but she's worried she might be gazumped.
(Definition of gazump from the Cambridge Business English Dictionary © Cambridge University Press)
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