Auction Study guides, Class notes & Summaries

An auction listing contract CORRECT ANSWER Must be written to be enforceable Seller CORRECT ANSWER In the contracting to operate a consignment auction this determine the rules of the sale between the auctioneer and the _____ If a public auction your seller directs you to disregard ethical behavior, you should: CORRECT ANSWER Avoid the seller A real estate deed is a document to determine; CORRECT ANSWER Convey land ownership An auctioneers license number must be displayed on: CORRECT ...

GA Auction Study Guide with Complete Solutions

Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. B. $175,000 - or one-half the value Once a will is prope...

State of Colorado sales license test(pearls ) Answered 100% Correctly Latest 2024 State of Colorado sales license test(pearls ) Answered 100% Correctly Latest 2024 On Sunday(s), dealers are prohibited from selling all of the following except? ( C) Powersport Vehicles The licenses of a new or used dealer, wholesale auction dealer, or whole sales may be denied, suspended, revoked or fined for the following: (D) All of the above Colorado's Lemon Law covers: (C) defects that substantially...

Auction Exam Questions With 100% Correct Answers 2024

WGU D076 Finance Skills for Managers Questions and Answers 100% Pass Accounting The system of recording, reporting, and summarizing past financial information and transactions. Accounts Receivable Turnover (AR Turnover) An activity ratio found by credit sales divided by accounts receivable. Activity Ratios A category of ratios that measure how well a company uses its assets to generate sales or cash, showing the firm's operational efficiency and profitability. Additional Funds Needed (AFN) ...

1-A broker legitimately may pay all or part of Real estate commission to a a. seller b. salesperson c. buyer d. friend who provides a listing lead - Answer- -B: Salesperson can accept compensation only from their sponsoring broker. 2-The minimum age for a New York real estate broker's license is a. 19. b. 18. c. 20. d. 21. - Answer- C. As of July 1,2008 to become a broker you must be 20 years old. 3-Which of the following acts would require a real estate license in New York a. Sa...

The Materials Manager for the Utility department has to keep parts and materials in stock to maintain all 42 pump stations as well as all the infrastructure to keep the town citizens supplied with clean, pure, well water. This service has to be provided 24/7, and all essential maintenance, repair parts, and pumps must be readily available. These deep well pumps cost tens of thousands of dollars, but if they are maintained correctly, they can last over 10 years. What should be done with a decommi...

LAW OF CONTRACT NOTES: Contract as an agreement intended to create enforceable obligations A contract is an agreement between two or more parties. The extra ingredient that distinguishes contracts from non-binding agreements is a serious intention to create legally enforceable obligations (animus contrahendi). The absence of an animus contrahendi explains why ‘gentlemen’s agreements’ are not enforceable as contracts. Legally binding agreements that are not contracts: The ...