Sale of Goods Act, 1962(Act 137)
Section 4 (1): In the case of a sale by auction —
(a) where goods are put up for sale in lots each lot is prima facie deemed to be the subject of a separate contract of sale;
(b) the sale is complete when the auctioneer announces its completion by the fall of the hammer or in other customary manner;
(c) until such announcement is made any bidder may retract his bid and, subject to paragraph (d), the seller may withdraw the goods;
(d) where the sale is expressed to be without reserve the highest bona fide bidder shall be entitled to buy the goods at the price bid notwithstanding that the auctioneer refuses to accept his bid or to complete the sale;
(e) the seller or any one person on his behalf may bid if a right to bid is expressly reserved, but, subject to paragraph (f), not otherwise;
(f) where the sale is notified to be subject to a reserve price it shall be lawful for the seller or any person on his behalf to make one bid and no more; and such bid shall be openly declared at the auction before any other bid is received.
(2) Where there is a breach of any of the provisions of paragraph (e) or (f) of subsection (1) the buyer may treat the sale as fraudulent.
Procedure to Follow
Not Avaiable
Responsible Institution
Ministry of Trade, Agribusiness and Industry
Ministries
- Email: info@moti.gov.gh
- Website: www.moti.gov.gh
- GPS: GA-144-0150
- Telephone: 0500073887
Relevant Forms to Download
Not Available
Online System
Link Unavailable
Fees/ charges
Not Avaiable
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