LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

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A Louisiana auctioneer receives a consignment of antique furniture. The seller verbally states a reserve price of $5,000. Why should the auctioneer insist on a written agreement?

Verbal agreements are always unenforceable in Louisiana A written agreement prevents disputes and provides clear evidence of the terms The Board requires all verbal agreements to be notarized Written agreements are only needed for items valued over $10,000

Correct Answer:

A written agreement prevents disputes and provides clear evidence of the terms

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