Missouri Auction Laws
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When Sale of Auction Lot Final Missouri
Vernon's Annotated Missouri Statutes Title XXVI. Trade and Commerce (Refs & Annos) Chapter 400. Uniform Commercial Code (Refs & Annos) Article 2. Sales (Refs & Annos) Part 3. General Obligation and Construction of Contra...
Read moreAn Auctioneer is not Responsible for Implied Warranty of Title of an Item Sold at Auction only if s/he Discloses the Name of his/her Principal at the Time of Sale
In Universal C.I.T. Credit Corp. v. State Farm Mut. Auto. Ins. Co., 493 S.W.2d 385 (Mo. Ct. App. 1973), the court discussed if the auctioneer is responsible for the warranty of title of an item sold at auction. The Misso...
Read moreGenerally, an Agent or Broker in a Real Estate Auction is Entitled to his Commission Once he has Produced a Purchaser Ready, Willing, and able to buy on the Terms Proposed by the Vendor
Missouri Court of Appeals, Western District in Byrd v. Wilson Trust, 182 S.W.3d 701 (2006 Missouri) held that a broker in a real estate auction is entitled to his commission upon producing a buyer ready, willing, and abl...
Read moreIn an Auction Sale Where all Items are not subject to the Same Condition, a Condition to be Properly Imposed on a Specific Item Should Explicitly State the Condition/s and Identify the item/s that are Subject to those Condition/s
The Missouri Court of Appeals in Coleman v. Duncan, 540 S.W.2d 935 (Mo. Ct. App. 1976) stated that, in heterogeneous auction sales, a condition can be properly applied on a particular item only if it is explicitly impose...
Read moreMissouri Law Imposition of Tax or License Fee on an Auctioneer who Follows the Profession for Livelihood is Prohibited
Vernon's Annotated Missouri Statutes Title VII. Cities, Towns and Villages Chapter 71. Provisions Relative to All Cities and Towns (Refs & Annos) Taxing Powers 71.620. Imposition of tax or license fee on certain professi...
Read moreNo Court Order Required to Auction Property of Estate
An Executor of an Estate is generally enquired to sell personal property to satisfy debts of the Estate before selling real estate. Absent exceptions, a Court Order is required to authorize the sale. However, if the Will...
Read moreTrustee’s Power to Regulate Auctioneers in Missouri
Vernon's Annotated Missouri Statutes Title VII. Cities, Towns and Villages Chapter 80. Towns and Villages (Refs & Annos) Organization--Board of Trustees (Refs & Annos) 80.090. Trustees--power to pass certain ordinances S...
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