Author Question: At an auction sale, each bid is: A) a counteroffer to the auctioneer's offer of the merchandise. B) ... (Read 93 times)

audragclark · **on:** Jun 24, 2018

At an auction sale, each bid is:
A) a counteroffer to the auctioneer's offer of the merchandise.
B) an acceptance of the auctioneer's offer.
C) an invitation to negotiate.
D) an offer.

Question 2

In an auction __________, the auctioneer takes bids as agent for the seller with the understanding that no contract is formed until the seller accepts the transaction.
A) without reserve
B) with reserve
C) without preserve
D) with preserve