LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

What is the duty of disclosure in the auctioneer-principal relationship?

The duty to disclose the auctioneer's commission to bidders The duty to inform the principal of all material facts relevant to the auction The duty to publish all auction results in a newspaper The duty to disclose bidder identities to the seller

Correct Answer:

The duty to inform the principal of all material facts relevant to the auction

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