LAND AGENT SUED

Hokitika Guardian, 18 September 1925, Page 1

LAND AGENT SUED

[hy TF.r.EOItAI'U —i’EIl I'tt.KSS ASSOCIATION.] HAMILTON, Sept. 17. The case involving a claim ol sixteen thousand sterling damages for alleged misrepresentation lias occupied tile attention of Xlr Justice llerdman at the Supreme Court lor the last three days, the parties being William \lleu l’attorson, farmer, of Te Rapa, and Jane Patterson, spinster, Auckland. claimants, and Frederick Charles Hand, land agent, formerly of Hamilton, defendant.

The allegation was that, on the defendant's representation that the investment was safe, as the defendant had sold the property for forty thousand. and that the mortgage represented the balance of the unpaid purchase money, the plaiutifl- accepted a. mortgage of Bli.GoO in exchange l'or plaintiff’s equity in a farm and stock valued at £12.150. The purchaser paid £SOO ,-ash. plaintiffs giving a subiiwi tgage id six thousand. representing ihe difference between their equity iu the farm and stock, and the mortgage received by them. No interest had been received hy ihe plaintiffs on ihe large mortgage, while the plaintiffs paid the interest on the submortgage. Tt was claimed that the plaintiffs, by reason of the alleged acts of the defendant had lost the value of the farm and stoclc. valued ai £12.150, and. in addition, lost three thousand in interest. and paid travelling, legal and oilier expenses incurred in an endeavour to retrieve their loss: also that tin' defendant, as (lie paid land agent of the plaintiffs, owed them a duty in disposing of their farm to he faithful and just to them, and lo exercise, on their behalf, the best of his skill and ability in disposing of their property on best and saiest terms.

Evidence was later brought ’that Hand bad later acquired tho submortgage. and had exerted pressure on the plaintiffs, subsequently exercising powers of sale and buying in the whole property for £5-100. the plaintiff rereiving nothing. Hi- Honour reserved judgment.