SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What fiduciary duty does a South Carolina auctioneer owe to the seller?

A duty to maximize the buyer's savings Duties of loyalty, good faith, disclosure, accounting, and reasonable care A duty only to collect the highest possible commission No fiduciary duties; it is strictly a business transaction

Correct Answer:

Duties of loyalty, good faith, disclosure, accounting, and reasonable care

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