North Dakota Auction and Auctioneer Laws
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In Auctions Where the Seller/Seller's Agent Bids without Advance Notice, the Successful Bidder’s Right to Rescind an Auction Contract must be exercised promptly On Discovering the Facts That Permit the Bidder To Rescind the Contract
Section 41-02-45 of the North Dakota Code permits a successful bidder to evade an auction sale on the ground that the seller or his agent bid at the auction without giving notice of reserving the right to do so. However, bidders must be careful to exercise this right within a reasonable time after discovering the fact that the seller or his agent bid at the auction. Or else, they may f...
Auctioneers in North Dakota
North Dakota Century Code Annotated Title 3. Agency Chapter 3-05. Auctioneers § 3-05-01. Authority from seller An auctioneer, in the absence of special authorization or usage to the contrary, has authority from the seller only as follows: 1. To sell by public auction to the highest bidder. 2. To sell for cash only, except such articles as usually are sold on credit at auction. 3....
When Sale of Auction Lot Final North Dakota
North Dakota Century Code Annotated Title 41. Uniform Commercial Code (Refs & Annos) Chapter 41-02. Sales Part 3. General Obligation and Construction of Contract § 41-02-45. (2-328) Sale by auction 1. In a sale by auction, if goods are put up in lots, each lot is the subject of a separate sale. 2. A sale by auction is complete when the auctioneer so announces by the fall of th...
Items 1 - 3 of 3
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Items 1 - 3 of 3
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