Asked by Jacob Murphree on Jun 09, 2024

verifed

Verified

Acorn Outfitters advertises a large tent,usually selling for $250,to be sold to the first customer the next morning for $25.Samuel is the first in line,but Acorn claims that the tent has already been sold.Acorn has engaged in an auction.

Auction

A sale that is open to the public, during which potential buyers compete for the right to purchase certain items by placing higher and higher bids until the highest bid is reached and the auctioneer accepts on behalf of the seller.

First Customer

The term "first customer" refers to the initial purchaser of a company's product or service, marking a significant milestone for a new business or product launch.

  • Acquire knowledge about the legal ramifications linked to advertisements and auction operations.
verifed

Verified Answer

HB
Hannah ByrumJun 15, 2024
Final Answer :
False
Explanation :
Acorn has engaged in a bait-and-switch technique, not an auction. They advertised a low price to attract customers, but did not actually have the item available for purchase at that price. The use of the word "auction" in this context is inaccurate.