SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What is 'express authority' in the principal-agent context of auctioneering?

Authority that is assumed by the auctioneer Authority directly and explicitly granted by the seller to the auctioneer, either orally or in writing Authority that exists only in emergency situations Authority granted by the bidders

Correct Answer:

Authority directly and explicitly granted by the seller to the auctioneer, either orally or in writing

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