AL Auctioneer Practice Questions - Alabama Licensed Auctioneer Exam

Under UCC 2-328, if an auction is advertised as 'without reserve,' what does this mean?

The goods must be sold to the highest bidder regardless of price The seller may still withdraw the item at any time No minimum bid is required but the seller can reject bids The auctioneer sets a minimum acceptable price

Correct Answer:

The goods must be sold to the highest bidder regardless of price

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