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Code · Illinois · Chapter 225 — PROFESSIONS, OCCUPATIONS, AND BUSINESS OPERATIONS · Act 407

(Section scheduled to be repealed on January 1, 2030)

87 words·~1 min read·/il/chapter-225/act-407/1-10

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(Section scheduled to be repealed on January 1, 2030)
Sec. 15-5. Representations. An auctioneer or auction firm, or the licensees, agents, or employees of an auctioneer or auction firm, conducting an auction or providing an auction service shall not:
(1)misrepresent a fact material to a purchaser's decision to buy at or by auction;
(2)predict specific or immediate increases in the value of any item offered for sale at
auction; or
(3)materially misrepresent the qualities or characteristics of any item offered for
sale at auction.
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