Arkansas Auction and Auctioneer Laws
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Items 1 - 3 of 3
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A Sales Company Which Innocently Sells Stolen Property At Public Auction Can Be Held Liable To The Buyer For The Failure Of Title If It Does Not Disclose Principal’s Name
The Supreme Court of Arkansas in Oliver v. Eureka Springs Sales Co., 257 S.W.2d 367 (Ark. 1953) held that a party acting as a principal’s agent can escape from liability to a buyer for failure of title only if he discloses his principal’s identity. The case discussed below involved an auction sale of stolen animals by a sales company. The Court had to decide if the sales company ...
The Sale of Personal Property by Auction as Well as Real Estate by Auction are Governed by the Same Law
In Collins v. Heitman, 225 Ark. 666, 284 S.W.2d 628 (1955), Mrs. Helen Thomas had offered her land for sale at auction. In an instrument Mrs. Thomas and the auctioneer, entered into an escrow agreement, whereby, appellant herein was designated as the escrow agent. The terms and conditions governing the sale provided that the owner of the land reserved the right to reject any bids. The appellee was...
When Sale of Auction Lot Final Arkansas
Arkansas Code Annotated Title 4. Business and Commercial Law Subtitle 1. Uniform Commercial Code (Chapters 1 to 15) (Refs & Annos) Chapter 2. Sales (Refs & Annos) Part 3. General Obligation and Construction of Contract § 4-2-328. Sale by auction (1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A sale by auction is complete whe...
Items 1 - 3 of 3
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Items 1 - 3 of 3
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