Which of the following is true for an auction with reserve?
A) The seller retains the right to refuse the highest bidder.
B) Invitations to make an offer are not allowed.
C) Goods cannot be withdrawn from sale after the offer has been made.
D) A bid once made cannot be withdrawn and is legally binding.

Question

Quizplus · Accepted Answer

In an auction with reserve, the seller has the right to set a minimum price (reserve) for the item being sold. The seller also has the right to refuse the highest bidder if the bid does not meet the reserve price.

Which of the Following Is True for an Auction with Reserve