Calor licitantis is a Latin phrase, the literal translation of which is, "heat of soliciting."
[2] This term was first used in the court system of Rome to describe the irrational behavior of bidders at auctions.
According to the Corpus Juris Civilis, the official body of Roman law, a bidder could be released from their bond to a purchase if calor licitantis had led to inflation of the price of the item in question such that the bidder could not reasonably pay to it.
The passage in Corpus Juris Civilis that addresses calor lcitantis this states: Locatio vectigalium, quae calor licitantis ultra modum solitae conductionis inflavit, ita demum admittenda est, si fideiussores idoneos et cautionem is qui licitatione vicerit offerre paratus sit.
Translated: "A tax lease that has been inflated beyond the usual sum due to bidding fever shall only be admitted if the winner of the auction is able to provide reliable bondsmen and securities."