Which of the following is true about auctions?
A) Acceptance occurs when an offeror makes the highest bid.
B) Bidders are treated as offerors, making offers the seller is free to accept or reject.
C) An item cannot be withdrawn from sale prior to acceptance.
D) The seller is required to accept the final offer when the auction is advertised as being "with reserve."

Question

Quizplus · Accepted Answer

Sellers at auctions are generally held to be making an invitation to offer. Bidders at such auctions are treated as offerors, making offers the seller is free to accept or reject.

Which of the Following Is True About Auctions