Jake Bids on an Item in an Auction with Reserve

question 39

Multiple Choice

Jake bids on an item in an auction with reserve.Jake is the

• A)offeror.
• B)offeree.
• C)promisee.
• D)auctioneer.

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Definitions:

Prohibition

The legal prevention of the manufacture, sale, and transportation of alcoholic beverages in the United States from 1920 to 1933 under the 18th Amendment.

Corruption

The abuse of entrusted power for private gain, often undermining democracy and good governance.

Speakeasies

Illicit establishments that sold alcoholic beverages during the Prohibition era in the United States.

Louis Brandeis

An American lawyer and Associate Justice on the Supreme Court of the United States from 1916 to 1939, known for his advocacy of privacy rights and progressive policies.