Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1891 edition. Excerpt: ... CHAPTER III. THE AUCTIONEER AND THE LAW. (1) The Contract of Sale. As the sales conducted in the auction-room constantly include lands and houses, and as the value of many a " lot" of goods put up for sale will often exceed 10 in value, it is important that an auctioneer should be familiar with certain provisions of the Act of Parliament (29 Charles II. c. 3) known as the Statute of Frauds (so called because it was passed "for the prevention of many fraudulent practices which are commonly endeavoured to be upheld by perjury and subornation of perjury "), so far as they relate to contracts of sale. And in the case of Pierce v. Corf (see next page), a high judicial authority, Mr. Justice (now Lord) Blackburn laid it down as the "duty of the auctioneer" to take reasonable and proper care that a contract of sale of which he has the charge is binding under the statute. The two sections of the statute which mainly concern the auctioneer are the 4th and the 17th. By s. 4 it was enacted "that no action shall be brought, whereby to charge any person upon any contract or sale of lands, tenements, or hereditaments, or any interest in or concerning them, unless the agreement upon which such action shall be brought, or some memorandum or note thereof, shall be in writing, and signed by the party to be charged therewith, or some other person thereunto by him lawfully authorized." By s. 17, "no contract for the sale of any goods, wares, or merchandises for the price of 10 sterling or upwards, shall be allowed to be good except (1) the buyer shall accept part of the goods so sold and actually receive the same; or (2) give something in earnest to bind the bargain or in part of payment; or (3) that some note or memorandum in writing of the said..."
