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When a sale by fall of hammer at an auction takes place, this is best classified as:
ATacit contract — inferred from conduct of parties
BExpress written contract
CVoidable contract
DE-contract
Answer & Solution
Correct answer: A. Tacit contract — inferred from conduct of parties
1. Per OCR: "Tacit Contract: It is a situation where a Contract has to be inferred from the conduct of parties. - Drawing cash from ATM, - Sale by fall of hammer at an auction sale, etc."
2. No spoken/written words required.
3. Hammer fall = acceptance of the highest bid.
_Source: ICMAI BoS CMA Foundation Paper 1 (FBLC) — Paper1_07042026.pdf, Module 2 §2.1 (page 53)_
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