Tennessee Auction and Auctioneer Laws
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Items 1 - 11 of 11
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Tennesse Judicial or Trust Auctions
Title 35. Fiduciaries and Trust Estates Chapter 5. Judicial or Trust Sales (Refs & Annos) § 35-5-112. Auctions and auctioneers Currentness (a) Whenever real or personal property is to be sold at public sale under any order or decree of any court in this state, the court, judge or chancellor under whose jurisdiction the sale is to be made has the discretionary authority to secure the s...
County Owned Real or Personal Property that has become Surplus, Obsolete or Unusable shall be Sold by Public or Internet Auction – Tennessee-Amended
Title 12. Public Property, Printing and Contracts Chapter 2. Administration and Disposition of State Property Part 4. State Surplus Personal Property Act of 1976 (Refs & Annos) § 12-2-403. Disposal methods Currentness (a) No article or personal property may be disposed of as surplus except by one (1) of the following methods: (1) Public auction, publicly advertised and held; (2) Sa...
In an Auction sale where the owner Reserves the Right to Reject a bid and the Auctioneer has Announced that the sale is Subject to Owner's Confirmation, a binding Contract for Sale is formed only after the Owner Accepts the Bid
The Tennessee Court Of Appeals in Cunningham v. Lester, 138 S.W.3d 877 (Tenn. Ct. App. 2003) held that in auction sales where the auctioneer has announced that the sale is subject to owner’s confirmation, the fall of hammer does not conclude the sale. The sale is finalized and a binding contract is formed only after the owner accepts the bid and confirms the sale. This c...
The Auctioneering Business is a Legitimate Subject of Regulation to Prevent Abuses and Frauds
In Gatlinburg Art Gallery v. Gatlinburg, 215 Tenn. 107 (Tenn. 1964), the Tennessee Supreme Court upheld the City’s ordinance that regulated the business hours of auctions of certain type of items. The Court found that the business of auctioneering could be regulated to prevent abuses and frauds. The Court noted that the City of Gatlinburg was a resort town with tourism as its sol...
An Owner's Right to Reject Bids Cannot be Asserted After the Bid is Accepted by the Fall of Hammer or by any other act of Acceptance by the Auctioneer if the Right to Reject is Neither Stated in the Printed Posters nor Announced at Auction
The Tennessee Court of Appeals, Western Section in Johnson v. Haynes, 532 S.W.2d 561 (Tenn. Ct. App. 1975) held that a Seller cannot secretly keep her right to reject bid. The Court stated that such right to reject bid cannot be asserted after the highest bid is accepted by the auctioneer if it the right5 to reject is not explicitly stated in the posters or announced at the auction sale. &nb...
Tennessee State Surplus Personal Property may be Disposed of by Public or Internet Auction
Tennessee Statutes Title 12. Public Property, Printing And Contracts Chapter 2. Administration And Disposition Of State Property Part 4. State Surplus Personal Property Act Of 1976 § 12-2-403. Methods of disposal Note: Amended § 12-2-406. Advertisement and notice Note: Amended § 12-2-409. Disposal - Exempt personal property Note: Amended § 12-2-412. Violations - Penal...
County Owned Real or Personal Property that has become Surplus, Obsolete or Unusable shall be Sold by Public or Internet Auction – Tennessee
Tennessee Statutes Title 5. Counties Tennessee Statutes Title 12. Public Property, Printing And Contracts Chapter 2. Administration And Disposition Of State Property Part 4. State Surplus Personal Property Act Of 1976 § 12-2-403. Methods of disposal Note: Amended Chapter 21. County Financial Management System Of 1981 § 5-21-130. Sale of surplus, obsolete or unusable county-owned ...
Municipality’s Power to Sell Surplus Property by Public or Internet Auction in Tennessee
Tennessee Statutes Title 6. Cities And Towns Municipal Government Generally Chapter 54. Municipal Powers Generally Part 1. General Provisions § 6-54-134. Surplus property; sale by Internet auction Currentness When a municipality is required by any law to sell surplus property by public auction, “public auction” includes the sale by Internet auction. Credits 2009 Pub.Acts,...
When Sale of Auction Lot Complete
Tennessee Statutes Title 47. Commercial Instruments And Transactions Chapter 2. Sales Part 3. General Obligation And Construction Of Contract Current through Acts 2013 ch. 485 § 47-2-328. 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 when the auctio...
Reserve and Without Reserve Auctions
Tennessee Statutes Title 47. Commercial Instruments And Transactions Chapter 2. Sales Part 3. General Obligation And Construction Of Contract Current through Acts 2013 ch. 485 § 47-2-328. 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 when the auctio...
Judicial or Trust Auctions
Tennessee Statutes Title 35. Fiduciaries And Trust Estates Chapter 5. Judicial Or Trust Sales Current through Acts 2013 ch. 485 § 35-5-112. Auctioneer services and fee Note: Amended
Items 1 - 11 of 11
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Items 1 - 11 of 11
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