Which of the Following Is Not True About Auctions

question 44

Multiple Choice

Which of the following is not true about auctions?

• A) The UCC provides that if an auction sale is advertised or announced in explicit terms to be with reserve, the auctioneer may not withdraw the article put up for sale unless no bid is made within a reasonable time.
• B) Unless an auction is advertised as being without reserve, the sale is with reserve.
• C) Whether an auction is with or without reserve, a bidder may retract his bid at any time prior to acceptance by the auctioneer.
• D) If the auctioneer knowingly receives a bid on behalf of the seller and notice has not been given that the seller reserves the right to bid at the sale, the bidder to whom the goods are sold can avoid the sale.

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Definitions:

Deviants

Individuals who act or behave in ways that deviate from the accepted norms or standards of their society or community.

Labeling

Refers to the process of classifying and naming behaviors, individuals, or groups based on perceived characteristics, often influencing how they are treated by others and self-identity.

Social Control

Mechanisms, strategies, and institutions society uses to persuade or enforce conformity to its norms and laws.

Recidivism

The tendency of a convicted criminal to reoffend, often used in the context of the rate at which former prisoners commit crimes.