MERCANTILE LAW

Dominion, Volume 22, Issue 225, 19 June 1929, Page 13

MERCANTILE LAW

ADDRESS BY MR. J. S. BARTON.

An address on “General Principles of Mercantile Law" was given by Mr. J. 8. Barton, S.M. to a well-attended meeting of.the Wellington Accountant Students’ Association. Mr. E. W. Hunt presided. Mr. Barton first referred to the great services rendered in the early days of the association by Mr, D. P. Stuart and Mr, C. C. Powies, who, although in the evening of their lives had made their place in the world, considered it no trouble to turn out night after night in the interests of the students. In regard to the subject of his address he wanted to direct them more to the principles rather than the statute of mercantile rule. He proceeded to deal in detail with the negotiation of bills of exchange and company law. Code rules had to be governed by principles which were elastic-enough to enable them to get over any difficulties which arose. He could name six underlying principles which would make a complete and effec/tive code for a small, non-trading agricultural community, hut as soon as it grew larger and began trading or bartering. the simple set of rules broke down, and they had to be extended to meet the need. They had the statutes and all. the law cases and text books which they might expect would cover any point which could prise, yet in a small country court two small traders might raise a set of circumstances which had never arisen before. Then they had to fall back on first principles. It was impossible to prescribe certain rules and regulations for all circumstances which might arise later on Human ingenuity was so acute that one could not anticipate all the combinations, and so the rules ware incomplete. They tended to get out of date. The successful lawyer and able jurist, continued Mr. Barton, was one who was well grounded in principles, He studied the principles of law, and did not worry about the statutes, which were there when he wanted them. He would have an income of £5OOO to £lO,OOO a year, and he could always get two or three men at £4 a week to do the delving into the statutes. He worked with his face to the light, unravelling the problems as they arose. The man who buried himself in codes lost himself, and got nowhere. The speaker paid tribute to the late Justices Salmond and Hoskings, both of whom were excellent lawyers and jurists, and provided many judgments which would be of great help to students of common law. The speaker dealt with the general law of contracts, personal property, transfer, and other phases of mercantile Inw, In which the principles might be applied in addition to the code.