Requirement of written contract for sale of goods; time period for retention of contract

Checkout our iOS App for a better way to browser and research.

Except with respect to goods sold through an auction firm, no licensee shall sell goods at an auction until the auctioneer or auction firm involved has first entered into a written contract with the owner or consignor of such goods, which contract sets forth the terms and conditions upon which such auctioneer or auction firm accepts the goods for sale. A copy of every written contract shall be retained for a period of two (2) years from the date of the auction.


Download our app to see the most-to-date content.