The lawyers of Leo's estate put an auction ad in the local newspaper asking "without reserve" bids on his 100 acre ranch along the Guadalupe River. All bids were to be texted by 5PM August 1st. Only one bid was sent, and that was Sam's bid of $100. Assuming no otherlegal issues, the Estate of Leo and Sam have an enforceable agreement for the purchase and sale of the ranch for $100.True or FalseTrueFalse

Without Reserve: In an auction "without reserve," the seller (the estate of Leo) agrees to sell the…

Answered: The lawyers of Leo's estate put an…

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