CA CPT Model Test Paper 5 with solutions for online practice

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Question : 92 of 200

Marks: +1, -0

A made a bid for an old and rare stamp at an auction sale but withdraws it before fall of hammer. One of the conditions of the sale was “bid once made shall not be withdrawn”, which A knew. Discuss the right of A:

A is not entitled to withdraw bid because A knew about the condition.
A is entitled to withdraw bid before the fall of hammer because he had such right.
A is liable to pay damages to Auctioneer.
A is liable to pay damages to true owner for breach of condition.

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