Tennessee Auction Laws
11 laws
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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 c...
Read moreCounty 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 §...
Read moreCounty 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...
Read moreIn 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 ham...
Read moreJudicial 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
Read moreMunicipality’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 muni...
Read moreReserve 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...
Read moreTennesse 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 ord...
Read moreTennessee 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: A...
Read moreThe 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 th...
Read moreWhen 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...
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