Nebraska Statutes 36-203. Auctioneer’s memorandum, how construed
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Whenever goods shall be sold at public auction, and the auctioneer shall, at the time of the sale, enter in a sale book a memorandum specifying the nature and price of the property sold, the terms of sale, the name of the purchaser, and the name of the person on whose account the sale is made, such memorandum shall be deemed a note of the contract of sale within the meaning of section 2-201, Uniform Commercial Code.
Source
- R.S.1866, c. 43, § 69, p. 294;
- R.S.1913, § 2632;
- C.S.1922, § 2460;
- C.S.1929, § 36-204;
- R.S.1943, § 36-203;
- Laws 1972, LB 1056, § 1.
Terms Used In Nebraska Statutes 36-203
- Contract: A legal written agreement that becomes binding when signed.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC