In relation to sale of goods, explain four rules relating to auction sales
Rules relating to auction sales include;
- If goods are offered in lots, each lot is deemed to be the subject matter of a separate contract.
- If the right of the seller to bid is not expressly’ reserved, he cannot bid or do so through another person.
- A sale by auction may be subject to an agreed price.
- The right of the seller to bid may be reserved, in which case he may do so at the auction.