(225 ILCS 407/15-5)
(Section scheduled to be repealed on January 1, 2020)
Sec. 15-5. Representations. An auctioneer or auction firm, or the sponsored 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.
(Source: P.A. 96-730, eff. 8-25-09.)
Sections: 15-5 15-10 15-15 15-20 15-25 Next
Last modified: February 18, 2015