VALUER AND HIS FEE

Chronicle (Levin), 26 July 1946, Page 4

VALUER AND HIS FEE

—Press Association

By Telegraph-

INVERCARGILL, July 25. What was deseribed by Couusel as a case of vital iiuportance to propei'ty valuers througliout New Zealand, was heard in t.lie Vlagistrate's Court by Mr. Abernethy, 8.M. The case was a elaim by Proctor Henry Nieholson, comniission agent, Invercargill, against William Thomas Stroud, retired, for £16 16s balance of fee said to be due for a valuation carried out of the Milford Hotel, now known as the Cecil Hotel, Invercargill. PlaintifO claimed he was entitled to £31 10s in accordance with the scale of fees of the New Zealand Institute of Valuers.

Defendant's case was that all he was required to pay was £14 14s, an amount fixed by the Registrar of the Supreme Court. • The case arose out of the taking over of the Milford Hotel by the Invercargill Licensing Trust in 1945. Plaintiff ' was employed by defendant to value the property with a view to appearing tiefore the special Arbitration Court set up to fix the price for the property. Plaintiff 's valuation was £28,977 and the price fixed by the Arbitration Court was £29,000. Plaintiff claimed that the fixing of the fee by the Registrar should not affect any contract, whether expressed or implied, between him and defendant. ' 1 This case is vital to valuers througliout New Zealand," said Mr. J. Mills for plaintiff. "If the Institute 's fees can be upset, then the position of valuers will be most unsatisfactorv. This is the first occasion, certainly in • Invercargill, and I thinlr in New Zealand, that the Institute 's scale of charges has been disputed since the scale came into operation 10 years ago." The Magistrate reserved deeision.