NH Auctioneer Practice Questions - New Hampshire Licensed Auctioneer Exam

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A New Hampshire auctioneer advertises an 'absolute auction' but then refuses to sell a lot because the high bid is too low. This action is:

Permitted if the reserve was mentioned verbally at the auction A violation of auction law and potentially fraudulent Acceptable if the seller instructed the auctioneer not to sell below a certain price Legal as long as the lot is re-offered at a later date

Correct Answer:

A violation of auction law and potentially fraudulent

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