MA Auctioneer Practice Questions - Massachusetts Licensed Auctioneer Exam

What is the 'right of rescission' for a buyer at auction?

The right to cancel any purchase within 3 days The right to cancel a contract due to fraud, misrepresentation, or material mistake The right to return any item for a full refund The right to bid again after the hammer falls

Correct Answer:

The right to cancel a contract due to fraud, misrepresentation, or material mistake

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