An auction sale is complete on the fall of hammer. This means that the sale is considered final and binding at the moment the auctioneer's hammer falls, indicating that the highest bidder has successfully won the item being auctioned.
Here is a detailed explanation of why the answer is C:
Definition of auction sale:
- An auction sale is a public sale in which goods or property are sold to the highest bidder.
Explanation of the options:
A: Delivery of goods
- Delivery of goods usually occurs after the auction sale is complete and the buyer has made the payment. It is not the event that signifies the completion of the auction sale.
B: Payment of price
- Payment of price is indeed an important part of the auction process, but it does not signify the completion of the auction sale. The sale is still considered ongoing until the fall of the hammer.
C: Fall of hammer
- The fall of the hammer is the moment when the auctioneer declares the item sold to the highest bidder. It indicates the completion of the auction sale and the transfer of ownership from the seller to the buyer.
D: None of the above
- Since the correct answer is C, option D is incorrect.
Conclusion:
In an auction sale, the completion of the sale is marked by the fall of the hammer. This event signifies that the highest bidder has successfully won the item being auctioned and the sale is considered final and binding.

Explanation:

What is an auction sale?
An auction sale is a public sale in which goods or property are sold to the highest bidder.

Completion of an auction sale:
The completion of an auction sale is indicated by the fall of the hammer.

Why the fall of the hammer?
- The fall of the hammer is a symbolic gesture that signifies the acceptance of the highest bid.
- Once the auctioneer's hammer falls, a legally binding contract is formed between the seller and the highest bidder.

Delivery of goods and payment of price:
- While delivery of goods and payment of price are important aspects of completing the sale, the pivotal moment in an auction is the fall of the hammer.
- After the hammer falls, the buyer is obligated to pay the agreed-upon price and the seller is obligated to deliver the goods.

Conclusion:
In an auction sale, the fall of the hammer is the crucial moment that marks the completion of the sale. While delivery of goods and payment of price are essential components, the fall of the hammer is the point at which the transaction becomes legally binding.

C is answer