IL Auctioneer Practice Questions - Illinois Licensed Auctioneer Exam

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An auctioneer in Illinois discovers that a painting consigned for auction is stolen property. What is the auctioneer's legal obligation?

Sell the painting and let the buyer handle the dispute Refuse to sell the item and notify appropriate authorities Return the item to the consignor without further action Sell the painting at a discounted price

Correct Answer:

Refuse to sell the item and notify appropriate authorities

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