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(1) An auctioneer making a sale by auction is prohibited, unless it is agreed otherwise between the auctioneer and the vendor, to sue for the recovery of the sum of money and the discharge of all liabilities due in respect of that sale.

(2) An auctioneer is liable, unless it is otherwise agreed between the auctioneer and the vendor, for the due payment to the vendor of the net proceeds of every sale of property within ten days from the date of the sale of the property.