LA Auctioneer Practice Questions - Louisiana Licensed Auctioneer Exam

A bidder wins an item at auction but refuses to pay. Under Louisiana law, what recourse does the auctioneer have?

None — the auctioneer must absorb the loss The auctioneer may resell the item and pursue the defaulting bidder for any deficiency The auctioneer must wait 90 days before taking any action The auctioneer can only file a complaint with the Board

Correct Answer:

The auctioneer may resell the item and pursue the defaulting bidder for any deficiency

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