NH Auctioneer Practice Questions - New Hampshire Licensed Auctioneer Exam

What is the 'duty of obedience' in the principal-agent relationship?

The seller must obey the auctioneer's instructions The auctioneer must follow the lawful instructions of the principal Bidders must obey the auctioneer's rules The Board must obey statutory guidelines

Correct Answer:

The auctioneer must follow the lawful instructions of the principal

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