TN Auctioneer Practice Questions - Tennessee Licensed Auctioneer Exam

Which of the following statements about 'with reserve' auctions is correct under Tennessee law?

The auctioneer must accept any bid, no matter how low The seller or auctioneer may withdraw goods at any time before the sale is announced complete The highest bid automatically wins regardless of amount The reserve price must be publicly disclosed

Correct Answer:

The seller or auctioneer may withdraw goods at any time before the sale is announced complete

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