SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

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A South Carolina auctioneer is asked to sell a collection of antiques. What type of contract should be executed before the auction?

No contract is necessary for antique auctions A written auction or consignment contract specifying items, commission, terms, expenses, and responsibilities An oral agreement is sufficient Only a handshake agreement is needed

Correct Answer:

A written auction or consignment contract specifying items, commission, terms, expenses, and responsibilities

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