SC Auctioneer Practice Questions - South Carolina Licensed Auctioneer Exam

What is 'undisclosed dual agency' and why is it problematic in auctioneering?

When two auctioneers conduct the same auction When an auctioneer secretly represents both the seller and buyer in the same transaction without disclosure, creating conflicting fiduciary obligations When an auctioneer holds licenses in two states When an auction has two reserve prices

Correct Answer:

When an auctioneer secretly represents both the seller and buyer in the same transaction without disclosure, creating conflicting fiduciary obligations

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