§ 51-05.1-04.1 — Written contracts

North Dakota § 51-05.1-04.1

• Jurisdiction: North Dakota
• Title 51: Sales and Exchanges
• Ch. 51-05.1: Auctioneers' and Clerks' Licenses

Text

An auctioneer may not sell the property of another at auction without a prior written contract
with the seller which sets forth the terms and conditions upon which the auctioneer will sell the

property. A similar contract governing the activities of the auction clerk is required between the
auction clerk and the seller. The auctioneer and clerk shall retain a copy of each contract for at
least two years after the auction. This section does not apply to consignment sales when the
value of the seller's property is less than five hundred dollars or to livestock markets. The
contract must contain:
1. The auctioneer's or clerk's name, trade or business name, business address, and
business telephone number.
2. A general description of the property to be sold at auction, any restrictions, and a
statement identifying whether the auctioneer or clerk is authorized to purchase at the
auction.
3. A description of the services to be provided and the consideration for the services. The
description must state which party is responsible for advertising and other expenses.
4. The date or dates when the items will be sold at auction.