Monday, September 7, 2009

Rules for auction sale

Rules of auction sales:

1.goods put up for sale in lots:

Where goods are put up for sale in lots each lot is prima facie deemed to be subject of a separate contract of sale.

2.completion of sale:

The sale is complete when the auctioner announcer its completion by the fall of the hummer or in some other customery manner like one two three or going gone such intrecter.

3.right of seller to bid:

A right to bid may be reserved expressly by or on behalf of the seller. Where such right is expressly reserved the seller or any one person on his behalf may bid at the auction.
4.use of pretended bidding:

If the seller makes use of pretended bidding to rise the price the sale is voidable at the option of the buyer.

Implied warranties in an auction sale:

When an auctioner sells goods he impliedly undertakes the following obligation.

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