Texas Auctioneer License-Part 1 Test Questions With Correct Answers | PASSED | UPDATED
Texas Auctioneer License-Part 1 Test Questions With Correct Answers | PASSED | UPDATED Does an auctioneer need a federal firearms license? - ANSWER Yes AND No; if estate sale then no, consignment sale then yes If an auctioneer sales a firearm away from their business location, how do they transfer to buyer? - ANSWER It must be returned to their business location before transferring. Who determines the auctioneers fee in federal bankruptcy court? - ANSWER The court sets the fee. Who must obtain a firearms license? - ANSWER Persons in the business of importing, manufacturing, or dealing in firearms, or importing or manufacturing ammunition What is an antique? - ANSWER Any work of art, piece of furniture, decorative object, or the like, created or produced in a former period, or, according to U.S. customs laws, 100 years before date of purchase. What is "provenance"? - ANSWER Place or source of origin; the history of ownership. What does "termination" of a contract mean? - ANSWER when either party pursuant to a power created by agreement or law puts an end to the contract otherwise than for its breach. What does "cancellation" of a contract mean? - ANSWER occurs when either party puts an end to the contract for breach by the other and its effect is the same as that of "termination" except that the cancelling party also retains any remedy for breach of the whole contract or any unperformed balance. True of False. An oral contract for a used jetski with a price of $750 is enforceable in a court. - ANSWER False. For items more than $500 a contract must be in writing to be enforceable.
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texas auctioneer license part 1 test questions
