IMPORTANT DECISION.
An English Building Society, in exercise of their- powers of sale, recently put up a mortgaged property for sale by auction. The Secretary of the Society, in conjunction with- their solicitor, instructed the, auctioneer. At the sale, the Secretary himself bid for part of the property. It was known in the auction room that the person bidding was the Secretary, but the auctioneer stated, as the fact was, that the Secretary was bidding for himself, and that his offer was bond fide. It did not appear that anyone bid after the Secretary, and the property was knocked down to him. The original owner of the property brought an action, contending that the sale was not valid, and it was held that it could not be supported.
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South Canterbury Times, Issue 2967, 28 September 1882, Page 2
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128IMPORTANT DECISION. South Canterbury Times, Issue 2967, 28 September 1882, Page 2
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