A purchase by the auctioneer1 himself without the seller's consent is voidable, and will be set aside at the instance of the seller, even after a long lapse of time, unless there is evidence that the seller consented to the purchase after disclosure of all material facts known to the auctioneer2. It is not enough to put the seller on inquiry, the auctioneer must make a full disclosure of all material facts3. The burden of proof that there was full disclosure and that the seller acquiesced in the sale lies on the auctioneer4.
Even after such full disclosure, the auctioneer
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