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In a retail purchase, there is an offer, acceptance and consideration, legality and capacity. The offer is the price, you agree to the price when

In a retail purchase, there is an offer, acceptance and consideration, legality and capacity. The offer is the price, you agree to the price when you pay for it-this is also consideration, assuming the legal status of the product, it will be legal. If you are over age 18, there is capacity.

Does this same analysis apply to an auction?

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