Multiple choice

The bidder at an auction sale can withdraw his bid

  1. any time during auction

  2. before fall of hammer

  3. before payment of price

  4. cannot withdraw at all
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

At an auction sale, a bidder may withdraw their bid at any time before the auctioneer announces the completion of sale (fall of hammer). Until that moment, the bid is merely an offer that can be revoked. The fall of hammer constitutes acceptance, making the contract binding and withdrawal impossible.

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