SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

Under South Carolina law, what is the significance of the term 'as is' at an auction?

It has no legal significance It indicates that the item is sold in its present condition, disclaiming most implied warranties, though it does not protect against fraud or intentional concealment It means the item is brand new It means the auctioneer guarantees the item for 30 days

Correct Answer:

It indicates that the item is sold in its present condition, disclaiming most implied warranties, though it does not protect against fraud or intentional concealment

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