A DEAL IN PROPERTY.

Auckland Star, Volume LIV, Issue 183, 2 August 1923, Page 7

A DEAL IN PROPERTY.

AGENT'S IX>ST COMMISSIOIT. PROPER INQUIRIES NOT MADE. "It appears to mc that the inaccuracies in the statements by the agent as to values are sufficient to prevent the recovery of the commission otherwise earned," said Mr. J. \V. Pornton, S.M., thie morning, when giving judgment in a claim for £82 10/, being commission said to be due on the exchange of a house in Auckland for other properties. The plaintiffs were Smith and Halcombe, Ltd., land agents (Mr. Herman), and the defendant R. C. Annett (Mr. Arnstead). His Worship said that defendant wished to obtain a property that would bring him a certain income, in exchange for properties he owned Which were not revenue-earning, and which, if he wished, could be exchanged again for a farm. He authorised plaintiffs to get him such a property. They acted for him, and brought about a contract for the exchange of a tenement house for his properties. Hβ afterwards 'repudiated the contract, and plaintiffs sued for commission. In defending the claim, defendant, Mr. Poynton continued, alleged that he was induced to enter into the contract by statements of one of the plaintiffs as his agent, and as such in a fiduciary relationship to him, as to the values of the land, the furniture, the income from the premises as a tenement house, and the term of the first mortgage thereon, which statements were erroneous, and made to defendant without proper inquiries by plaintiffs. His Worship found that certain values were not as stated by the agents, and that this was the reason defendant repudiated the contract. Judgment would be for defendant, with costs. Security for appeal was fixed at £15.