TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

In Tennessee, who has the legal authority to accept or reject bids during an auction?

Only the seller can accept or reject bids The auctioneer has the authority to accept or reject bids as the seller's agent Only the highest bidder can determine acceptance The audience determines acceptance by consensus

Correct Answer:

The auctioneer has the authority to accept or reject bids as the seller's agent

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