TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

What should a Tennessee auctioneer do if a buyer refuses to pay after winning a bid?

Simply move on and re-offer the item The auctioneer may re-offer the item and pursue legal remedies against the defaulting buyer for breach of contract The auctioneer must accept whatever amount the buyer offers The auctioneer has no legal recourse

Correct Answer:

The auctioneer may re-offer the item and pursue legal remedies against the defaulting buyer for breach of contract

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