Asked by Chris Hughes on May 27, 2024
Verified
At an auction,acceptance occurs when:
A) the auctioneer strikes the goods off to the highest bidder.
B) an auction begins.
C) a bid is placed.
D) the auctioneer calls for the last bid.
Acceptance
In contract law, an expression of agreement to the terms of an offer that results in a binding contract between the parties.
Auctioneer
A person or entity that conducts sales in which goods or property are sold to the highest bidder.
Highest Bidder
the person or entity that offers the highest price in a bidding process, such as an auction, and is typically awarded the item or contract up for bid.
- Identify when and how acceptance occurs in different contexts, including auctions.
Verified Answer
Learning Objectives
- Identify when and how acceptance occurs in different contexts, including auctions.
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