LAND AGENTS.

Taranaki Daily News, Volume LV, Issue 98, 11 September 1912, Page 8

LAND AGENTS.

A JUDGE'S COMMENTARY.

"A PERNICIOUS SYSTEM."

Land agents came in for some rough handling in the Supreme Court yesterdav, in connection with a case in which a farmer applied for his discharge from bankruptcy. His Honor (Mr. Justice Edwards) said 'lie would like to call the attention of the press to the paragraph appearing in the report of the Deputy Official Assignee, with which he cordially agreed. According to this, bankrupt was an honest, straightforward settler, "who has been victimised through the pernicious system of land exchanges so largely indulged in, and encouraged by the land agents of this province." The Assignee .-:dded in his report that bankrupt was in a good financial position up till 1009, when he was induced to exchange his farm for a farm at Turakina for.£ 12,050. This was an excessive, price for the land, as was evidenced by the fact that it subsequently realised only £7OOO, which was less than the bankrupt's mortgage j thereon. "The whole position rose," added the report, "from bankrupt's credulity in accepting land agents' assurances." In commenting on the report, His Honor said that While many land agents conducted their business in a highly re-1 spectable manner, there were others who I were unscrupulous, and who victimised unfortunate people by inducing them to exchange properties with others 'highly over-valued. In the case in point bankrupt must have lost £SOOO, and there < was no doubt that lie had been victim-1 ised by some "highly enthusiastic" land | agent. For the benefit of farmers and I the public generally, His Honor recalled I his own decision in a case at Auckland i recently, in which ihe ruled that in the absence of a binding custom and of any special arrangement, an agent for sale I

who induced a mail to exchange was not entitled lo remmiraiira us upon a sale, but only to ft remuneration for the value of his services. His Honor said tliat if this fact was more widely known, agents Would not be so prone Id induce simpletninded people to exchange.