DEAL IN PROPERTY.

Poverty Bay Herald, Volume XXXX, Issue 13070, 9 May 1913, Page 8

DEAL IN PROPERTY.

(Per Press Association.)

CHRISTCHUROH, last night. The Chamber of Commerce convened a meeting to consider what steps should be taken to combat the abuses arising out of the exchange of properties. The delegates, duly appointed by their associations, represented the Chamber of Commerce, Canterbury Law Society, and Canterbury Land and Estate Agents' Association. Many instances were cited shoeing the evils to which the practice had led, and several suggestions were made as to dealing with other than bona, fide cases. Finally it was decided to ask the Chamber of Commerce to communicate the following resolution to the Government, with the object of bringing in legislation to overcome the objectionable features of this class of business, which hias been so adversely criticised by both judges and magistrates: — "That in all cases of exchange of landed properties the agreement for exchange should not become legally operative and enforceable until the lapse of three months from the true date of such agreement. During such period of three months either party to the exchange should be at liberty to withdraw from the transaction."

It was further decided to ask the Land Agents' Association to consider the question of adopting a minimum rate of commission on the ekchange of properties as against the present custom, which permits of full commission being charged to both parties to the contract.