Indiana Code 25-6.1-6-1. Performance by auctioneer
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Terms Used In Indiana Code 25-6.1-6-1
- Auction: means a sale transaction conducted by means of oral or written exchanges between an auctioneer and the members of the auctioneer's audience, which exchanges consist of a series of invitations for offers for the purchase of goods or real estate made by the auctioneer and offers to purchase made by members of the audience and culminate in the acceptance by the auctioneer of the highest or most favorable offer made by a member of the participating audience. See Indiana Code 25-6.1-1-3
- Auctioneer: means an individual who is engaged in, or who by advertising or otherwise holds the individual out as being available to engage in, the calling for, the recognition of, and the acceptance of offers for the purchase of goods or real estate at an auction. See Indiana Code 25-6.1-1-3
- Goods: means any goods, wares, chattels, merchandise, or other personal property, including domestic animals and farm products. See Indiana Code 25-6.1-1-3
- Real estate: means any right, title, or interest in real property, including fixtures. See Indiana Code 25-6.1-1-3
Sec. 1. Performance by Auctioneer. In performing the duties of an auctioneer, every auctioneer shall follow all reasonable requests of the owner or consignor of the goods or real estate being sold at the auction, shall perform his duties so that the highest or most favorable offer made by a member of his audience is accepted, and shall otherwise perform his duties in accordance with the highest standards of the auctioneering profession.
As added by Acts 1977, P.L.270, SEC.1.