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MMLU-Pro / 1952 / Fernandez is planning to attend an auction of the assets of Cross & Black, one…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Fernandez is planning to attend an auction of the assets of Cross & Black, one of his major competitors who is liquidating. In the conduct of the auction, which of the following rules applies?

category

law

options

  1. A bidder can retract his bid even after the fall of the hammer.
  2. If the auction is with reserve, the auctioneer cannot withdraw the article at any time.
  3. The retraction of a bid by a bidder automatically ends the auction.
  4. A bidder may retract his bid at any time until the falling of the hammer.
  5. The auctioneer can increase the bidding price at any time during the auction.
  6. If the auction is without reserve, the auctioneer can withdraw the article at any time prior to the fall of the hammer.
  7. All bids are final and cannot be retracted under any circumstances.

src

ori_mmlu-professional_law

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Source and history

Official source

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