LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

What is the difference between express authority and apparent authority in the auctioneer-seller relationship?

Express authority is verbal; apparent authority is written Express authority is granted in the auction contract; apparent authority arises from third parties' reasonable belief based on the principal's actions Express authority applies to real estate; apparent authority applies to personal property They are synonymous terms in auction law

Correct Answer:

Express authority is granted in the auction contract; apparent authority arises from third parties' reasonable belief based on the principal's actions

Access more questions from this quiz

Continue to LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam for more practice questions and the full quiz experience.

Access More Questions