When a Bid Is Made at an Auction, It Can

question 55

True/False

When a bid is made at an auction, it can be withdrawn if the auctioneer has not yet accepted the bid, because the auctioneer has the power of acceptance.

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Definitions:

Wagner Act

Another name for the National Labor Relations Act of 1935, which established the legal right for workers to join unions and engage in collective bargaining in the United States.

Secret Ballot Elections

A voting method that ensures privacy for voters, allowing them to cast their vote anonymously to prevent influence or coercion.

Bargain

A negotiation process between two or more parties to reach a mutually agreeable outcome.

Wagner Act

A foundational piece of U.S. labor law, officially the National Labor Relations Act of 1935, which established workers' rights to collectively bargain and form unions.