At an auction for the first time, Max bids on an object, believing that the auctioneer requested an amount less than the price actually asked. Max is
A) liable on the bid.
B) not liable on the bid because Max misunderstood the auctioneer.
C) not liable on the bid because the auctioneer misstated the price.
D) not liable on the bid because the object is probably overpriced.

Question

Quizplus · Accepted Answer

Max is liable on the bid because, as a bidder, it is their responsibility to understand the auctioneer's request and make an appropriate bid. If Max misunderstood the auctioneer, it is still their responsibility to pay the amount they bid. The auctioneer is not responsible for Max's misinterpretation of the requested bid amount.

At an Auction for the First Time, Max Bids on an Object