Texas Auctioneer License-Part 1 questions with correct answers

Does an auctioneer need a federal firearms license? CORRECT ANSWER Yes AND No; if estate sale then no, consignment sale then yes If an auctioneer sales a firearm away from their business location, how do they transfer to buyer? CORRECT ANSWER It must be returned to their business location before transferring. Who determines the auctioneers fee in federal bankruptcy court? CORRECT ANSWER The court sets the fee. Who must obtain a firearms license? CORRECT ANSWER Persons in the business of importing, manufacturing, or dealing in firearms, or importing or manufacturing ammunition What is an antique? CORRECT ANSWER Any work of art, piece of furniture, decorative object, or the like, created or produced in a former period, or, according to U.S. customs laws, 100 years before date of purchase. What is "provenance"? CORRECT ANSWER Place or source of origin; the history of ownership. What does "termination" of a contract mean? CORRECT ANSWER when either party pursuant to a power created by agreement or law puts an end to the contract otherwise than for its breach.