Auction with reserve 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answers Absolute Auction -ANS After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve -ANS when auctioneer may withdraw the property at any time until he or she announces the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...

GDL Contract Law Revision Notes(Distinction Level) 2023 GRADED A Contract Law Notes Agreement and Contractual Intention Agreement: In order for parties to reach an agreement, one party must make an offer which is acceptedby the other. ‘Offer’: Professor Treitel: ‘an expression of willingness to contract on certain terms, madewith the intention that it shall become binding as soon as it is accepted by the person to whom it is addressed.’ ‘Offeror’: Person who makes the offer....

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Auction - CORRECT ANSWER After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - CORRECT ANSWER when auctioneer may withdraw the property at any time until he or she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 ...

LAW OF CONTRACT NOTES: Contract as an agreement intended to create enforceable obligations A contract is an agreement between two or more parties. The extra ingredient that distinguishes contracts from non-binding agreements is a serious intention to create legally enforceable obligations (animus contrahendi). The absence of an animus contrahendi explains why ‘gentlemen’s agreements’ are not enforceable as contracts. Legally binding agreements that are not contracts: The ...

Absolute Auction - After the auctioneer calls for bids on an article or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable time Auction with reserve - when auctioneer may withdraw the property at any time until he or she announces the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 -...

Aceable Agent - Principles of Real Estate II Exam 2023 with 100%Correct Answers. TOTAL = PART/PERCENTAGE PART = TOTAL x PERCENTAGE PERCENTAGE = PART/ TOTAL - correct answer -Formulas to calculate commission? PRINCIPAL - correct answer -What is the term that describes the money that is lent? CASH TO CLOSE - correct answer -Down payment minus earnest money? TOTAL SALES PRICE - correct answer -Loan payment + loan principal? ORIGINATION POINTS - correct answer -Loan points/fees charged 1% to ...

Which statement provides the basic justification for zoning? A. There must be regulations in place to prevent pollution B. The government does not want to encourage land development C. The inappropriate use of one's property may affect the value of another D. Professional planners want to control development - Answer- C. The inappropriate use of one's property may affect the value of another What is the rationale behind government planning of real estate development? A. To manage futu...

Cfa level 1 complete question and answers already passed 2024 Private value auctions - correct answer Value is subjective and different to each bidder Ascending price (English) auction - correct answer Bidders can bid amounts greater than the previous bid, and the bidder that first offers the highest bid wins the item and pays the amount Sealed bid auction - correct answer Each bidder submits one bid, which is unknown to the other bidders and the bidder with the highest bid wins the it...

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...

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...