Multiple Choice
Which of the following is true of an auction sale?
A) A sale by auction for any amount is not valid if it is made orally.
B) When an auctioneer makes and signs a memorandum of the sale, it binds only the bidder.
C) Goods can only be offered for sale without reserve.
D) There is no contract until and unless an auctioneer accepts a bidder's offer.
Correct Answer:
Verified
Correct Answer:
Verified
Q10: For whom does an auctioneer serve as
Q11: Which of the following best describes the
Q12: Which of the following can be a
Q13: An oral contract can be enforced
Q14: Writing is required when the person against
Q15: If a bid is made while the
Q16: Goods that are specifically made for
Q17: A signature can be initials, electronic or
Q18: No writing is required in the case
Q19: Macy's, an auction house, was slated to