Tennessee Code 62-19-128 – Licensed public automobile auctions – Minimum requirements
Current as of: 2024 | Check for updates
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[Effective Until 10/11/2024]
Terms Used In Tennessee Code 62-19-128
- Auction: means a sales transaction conducted by oral, written, or electronic exchange between an auctioneer and members of the audience, consisting of a series of invitations by the auctioneer for offers to members of the audience to purchase goods or real estate, culminating in the acceptance by the auctioneer of the highest or most favorable offer made by a member of the participating audience. See Tennessee Code 62-19-101
- Auctioneer: means a principal auctioneer, bid caller auctioneer, or public automobile auctioneer. See Tennessee Code 62-19-101
- Commission: means the Tennessee auctioneer commission. See Tennessee Code 62-19-101
- Public automobile auction: means a person that offers motor vehicles for sale to the highest bidder, where buyers are members of the public, by a motor vehicle dealer licensed to sell used motor vehicles that holds a public auto auction license and uses the services of a public automobile auctioneer licensed by the commission. See Tennessee Code 62-19-101
- Public automobile auctioneer: means an individual who, for a fee, commission, or any other valuable consideration, or with the intention or expectation of receiving a fee, commission, or any other valuable consideration at an auction or sale at auction, offers, negotiates, or attempts to negotiate a listing contract, sale, purchase, or exchange of goods, including motor vehicles. See Tennessee Code 62-19-101
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105