SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What is the principal-agent relationship as it applies to auctioneering in South Carolina?

The auctioneer is always the principal The seller is the principal who hires the auctioneer as their agent to sell property on their behalf The buyer is the principal and the auctioneer is their agent There is no agency relationship in auctioneering

Correct Answer:

The seller is the principal who hires the auctioneer as their agent to sell property on their behalf

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