Section 506.- If no time is fixed for the examination of the property, the seller can fix a reasonable time and notify the buyer to answer within that time whether he accepts the property or not.

 

Section 507.- If the property is to be examined by the buyer before delivery and the buyer does not examine and accept it within the time fixed by the contract, usage or notification from the seller, the latter is no longer bound.

 

Section 508.- When the property has been delivered to the buyer in order that he may examine it, the sale is complete in the following cases :

                (1) If the buyer does not notify his refusal within the time fixed by the contract, usage or notification, or

                (2) If the buyer does not return the property within the time, or

                (3) If the buyer pays the price or part of it, or

                (4) If the buyer disposes of the property or does any other act from which acceptance may be implied.

 

PART III

SALE BY AUCTION

 

Section 509.- A sale by auction is complete when the auctioneer announces its completion by the fall of the hammer or in any other customary manner. Until such announcement is made any bidder may retract his bid.

 

Section 510.- A buyer at a sale by auction is bound by the clauses of the notice advertising the sale and by any other statements made by the auctioneer before opening the bidding for each particular lot.

 

Section 511.- The auctioneer cannot bid or employ any person to bid at an auction conducted by himself.

 

Section 512.- The seller cannot bid or employ any person to bid, unless it is expressly stated in the advertisement of the auction that he has such right.

 

Section 513.- The auctioneer can withdraw property from the auction whenever he thinks that the highest bid is insufficient. 

 

Section 514.- A bidder ceases to be bound by his bid as soon as a higher bid is made, whatever be the validity of such higher bid, or as soon as the lot is withdrawn from the auction.

 

Section 515.- The highest bidder must pay the price in ready money on the completion of the sale, or at the time fixed by the notice advertising the sale.