Ohio § 1302.41
Full text of Ohio Ohio Revised Code § 1302.41, with citation guidance and answers to common questions.
§ 1302.41.
(A) In a sale by auction if goods are put up in lots each lot is the subject of a separate
sale. (B) A sale by auction is complete when the auctioneer so announces by the fall of the
hammer or in other customary manner. Where a bid is made while the hammer is falling in acceptance of a prior bid, the
auctioneer may in his discretion reopen the bidding or declare the goods sold under
the bid on which the hammer was falling. (C) Such a sale is with reserve unless the goods are in explicit terms put up without
reserve. In an auction with reserve the auctioneer may withdraw the goods at any time until
he announces completion of the sale. In an auction without reserve, after the auctioneer calls for bids on an article
or lot, that article or lot cannot be withdrawn unless no bid is made within a reasonable
time. In either case a bidder may retract his bid until the auctioneer's announcement
of completion of the sale, but a bidder's retraction does not revive any previous
bid. (D) If the auctioneer knowingly receives a bid on the seller's behalf or the seller makes
or procures such a bid, and notice has not been given that liberty for such bidding
is reserved, the buyer may at his option avoid the sale or take the goods at the price
of the last good faith bid prior to the completion of the sale. This division shall not apply to any bid at a forced sale.
Frequently Asked Questions About Ohio § 1302.41
What does Ohio Revised Code § 1302.41 cover?
Section 1302.41 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 1302.41?
A common citation format is "Ohio Revised Code § 1302.41" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 1302.41 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.