A PROPERTY TRANSACTION.

Dunstan Times, Issue 1103, 15 June 1883, Page 3

A PROPERTY TRANSACTION.

I Judgment has been given in a remarkable case before the Registrar of the Supreme Court, Nelson, acting for the Judge. At the beginning of May last, Arthur Clayden, late immigration agent, sold to James Park, surveyor, a house and land mortgaged for £2OO. Park’s statement was that he purchased simply for the price of the mortgage, which was to be transferee. The land being under the Land Tiansfer Act, a transfer was prepared an 1 signed, and explained to the parties. Ten days later Clayden demanded payment of the £2OO, explaining that his intention had been to sell tor £4OO, half cash ; but as there was a mistake, he offered to take back the property. Park refused to retransfer, and Clayden then commenced proceedings under stodons 140 ami 141 of the Land Transfer Act, claiming to have the transfer annulled. Tue evidence as to the value of the propery was conflicting. For Park it was shown that, in compaiison with the price paid for adjoining property, £2OO was a fair pr ice ; while for Clayden evidence was given of its being worth £4OO. >lt wag not allege i that Park had acted otherwise than in good faith. Clayden said that he wag so fully impressed with the conviction that the monetary consideration was to be £4OO, that he paidlno attention to terms of the transfer, in which the consideration was stated to be 10s. When this sum was mentioned to him, he' imagined it to be a fee that Park had to pay. The evidence and legal arguments were voluminous. The Registrar decided that neither party understood the other, and as neither consented to the same thing, there was no contract, As there had been no dealings with the and, and Clayden hail sought redress speedily, the transfer would be sot aai ie and its registration cancelled. In cause quence of Clayden’s carelessness, he ordered him to pay the costs of summons and transfer.