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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

At a valid auction, two bidders each offer the entire required amount. One seeks10 shares; the other seeks9.5 shares. Both bids otherwise satisfy all requirements. The auctioneer rejects the latter solely because fractions are categorically forbidden. What is correct?

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Whole-share status automatically beats every fractional bid The higher share quantity always wins A fraction automatically creates a new subscription The fraction is expressly contemplated, and the smaller qualifying share quantity governs

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