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

Question

Quizplus · Accepted Answer

In an auction with reserve, the bidder (Jake in this case) is considered the offeror. This is because the bidder is making an offer to buy the item at their bid price, but the offer is subject to the seller's acceptance of that bid as meeting the reserve price. The seller is the offeree and has the option to either accept or reject the offer. The auctioneer is the facilitator of the auction and not directly involved in the transaction as either the offeror, offeree, or promisee.

Jake Bids on an Item in an Auction with Reserve