Which of the following is NOT a requirement for a valid auction listing contract?

A valid auction listing contract typically requires certain elements to ensure clarity and enforceability. Among these, a properly signed contract is essential as it reflects the agreement of both parties involved. Additionally, providing a detailed description of goods is crucial because it informs potential bidders about what is being auctioned, helping to avoid misunderstandings. Clear responsibilities for auction expenses are also necessary to delineate who is accountable for costs incurred during the auction process, ensuring that all parties understand their financial obligations.

The presence of a time limit for auction completion, while beneficial for operational efficiency, is not necessarily a required element for the validity of the contract itself. The contract can be structured to allow flexibility in terms of timing, depending on the specific agreement between the parties. Thus, while establishing a time limit might be good practice for managing expectations and logistics, its absence does not invalidate the auction listing contract.