SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

Under the South Carolina UCC provisions governing auctions, when is a sale by auction complete?

When the buyer signs a purchase agreement When the auctioneer announces completion by the fall of the hammer or other customary manner When the buyer makes full payment 48 hours after the auction ends

Correct Answer:

When the auctioneer announces completion by the fall of the hammer or other customary manner

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