OH Auctioneer Practice Questions - Ohio Licensed Auctioneer Exam

What does 'caveat emptor' mean and how is it limited in Ohio?

Seller beware — the seller bears all risk Buyer beware — the buyer purchases at their own risk, but this doctrine does not protect against fraud or misrepresentation The auctioneer has no liability for any item All sales are final with no exceptions

Correct Answer:

Buyer beware — the buyer purchases at their own risk, but this doctrine does not protect against fraud or misrepresentation

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