Absolute auction Study guides, Class notes & Summaries

Ky Board of Auctioneer Test with 100% verified questions and answers Absolute Auction -ANS After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve -ANS when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right to bid -ANS The auction...

Ky Board of Auctioneer Test with 100% verified questions and answers Absolute Auction - CORRECT ANSWER After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - CORRECT ANSWER when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right ...

Absolute Auction - After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right to bid - The auctioneer may withdraw the goods at any time until he announces completion of the sale -...

Auction CORRECT ANSWER The sale of goods or real estate by means of exchanges between an auctioneer and members of an audience There shall be ______ member North Carolina auctioneer commission having the power and responsibilities set out in this chapter. The____ shall appoint the members of the commission. CORRECT ANSWER 5 , Governor "Fund" means Auctioneer Recovery Fund. CORRECT ANSWER True It is legal and ethical for the commission to investigate the background of any applicant app...

Market - A buyer wants to spot buy propane. Which analysis process should be used to determine when to buy? a. Demand b. Supply c. Performance d. Market Mean Absolute Deviation - Forecasts are never completely accurate. Which calculation demonstrates the degree of accuracy? a. Weighted moving average b. Absolute value of errors c. Mean Absolute Deviation d. Economic Order Quantity Developing alternate procurement operations locations - An entity located on the Gulf of Mexico is deve...

Auction CORRECT ANSWER method of sale of real or personal property, goods, or chattels, at a predetermined date and time, by means of verbal exchange, regular mail, telecommunications, the internet, an electronic transmission, or a physical gesture between an auctioneer and members of the audience Auctioneer CORRECT ANSWER any person who engages or who by advertising or otherwise holds the person out as being able to engage in the calling for recognition of and the acceptance of offers the pu...

Absolute Auction correct answersAfter the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve correct answerswhen auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right to bid correct answersThe auctioneer may withdraw the goods at any time unti...

Absolute Auction - After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - when auctioneer may withdraw the property at any time until he or she announces the completion of the sale. The potential bidders are the offerors Auction with reserve and the sellers reserving the right to bid - The auctioneer may withdraw the goods at any time until he announces completion of the sale - K...

Six Elements of a Valid Contract - ANSWER-* Offer * Acceptance * Consideration * Legal * Capacity * Intent All contracts are either - ANSWER-Bilateral or unilateral Bilateral contract - ANSWER-a promise for a promise Unilateral contract is: - ANSWER-a promise for an act Express contract is: - ANSWER-K where mutual assent of parties is verbal or written Implied contract - ANSWER-K established based on conduct of parties Quasi contract - ANSWER-No K, but courts act as matter...

Which of the following formulas is used with the index method to find the reproduction cost? correct answersPresent index ÷ Index at time of construction x Original cost = Present cost On auction day, what impact does the type of auction (absolute or reserve) have on your buyers/bidders? correct answersYour buyers may have the high bid and still not get the property in a reserve auction. Which federal lending act was introduced to combat lending discrimination in low- and moderate-income ...