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In an Auction with Reserve,the Seller Retains the Right to Refuse

question 87

True/False

In an auction with reserve,the seller retains the right to refuse the highest bid and withdraw the goods from sale.


Definitions:

Moral Consent

An agreement or acceptance that is considered ethical or in alignment with societal norms and moral principles.

Legitimacy

The general belief that a rule, institution, or leader has the right to govern or exercise authority.

Extraordinary Personal Traits

Unique and remarkable characteristics or qualities that set an individual apart from others.

Moral Consent

The agreement or approval given by an individual based on ethical or moral grounds, often related to personal or societal values.

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