Multiple choice

The bidder at an auction sale can withdraw his bid

  1. any time during auction

  2. before the fall of hammer

  3. before the payment of price

  4. none of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

At an auction sale, a bid constitutes an offer, not a contract. The auctioneer's acceptance occurs when the hammer falls, indicating acceptance of the highest bid. Until that moment, the bidder retains the right to withdraw their offer. This principle protects bidders from being bound to bids they may wish to reconsider before final acceptance. Once the hammer falls, the contract is complete and withdrawal is no longer possible.

Keep practicing — related questions