LAND EXCHANGE ABUSES.

Dominion, Volume 6, Issue 1745, 9 May 1913, Page 4

LAND EXCHANGE ABUSES.

PROTEST FROM BUSINESS MEN. (By Tel«eraph.—Press Aceoctatlon.) Christchurch, Mar 8. Tho Chamber of Commerce convened a meeting to consider what steps should be taken to combat tho abuses arising out of Ino exchange of propei'ticf. Delegate?, duly appointed by their associations, represented tlio Chamber of Commerce, the Canterbury Law Society, and tlio Cantorbury Land and Estate Agents' Associa-'. lion. Many instances were citcd showing ibo evil's to which tlio practice had led, and teveral suggestions were mndo as to means of dealing with other than bonaMo casts. Finally it was resolved to ask tho Chamber of Commerce to communicate the following resolution to tlio Government with the object, of' bringing in legislation to overcome tho objcctionnblo features of this class of .business, which' havei been so adversely criticised; by both Judges and Magistrates:—'"That in all cases of exchanges of landed properties an ngreement for exchange should not becomo legally operative and enforceable until tlio lapse of three months from the true date of such, agreement j during such period of three months either party to tlio exchange should bo at liberty to withdraw from tho transaction." It was further decided to ask the Land Agents' Association to consider tho ques-i tion of adopting a minimum rnto of commission on the exchange of properties, ns against tlio present custom, which permits of the full commission being charged to bot'h parties to tho contract.