LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

Under UCC Section 2-328, when is a sale by auction complete?

When the winning bidder signs a purchase agreement When the auctioneer announces completion by the fall of the hammer or other customary manner When payment is received in full When the item is physically delivered to the buyer

Correct Answer:

When the auctioneer announces completion by the fall of the hammer or other customary manner

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