LAND EXCHANGES.

Taranaki Daily News, Volume LV, Issue 298, 9 May 1913, Page 5

LAND EXCHANGES.

TO COMBAT THE EVIL. GOVERNMENT ASKED TO INTERVENE. By Telegraph— Press Association. Christchurch, Last Night. The Chambers of Commerce convened a meeting to consider what steps should he taken to comh.it the abuses arising out of the exchange of- properties! Delegates duly appointed by their associations represented the Chamber of Commerce, the Canterbury Law Society, and the Canterbury Land and Estate Agents' Association. Miuiv instances were cited, showing the evils to which the practice had led, and several su<»»cstions were made as to dealing with other than bona fide cases. It was finally resolved to ask the Chamber of Commerce to communicate the following resolution to the Government, with the object of bringing in legislation to overcome the objectionable features of this class of business, which has been so. adversely criticised by both judges and magistrates: "That in all cases of exchanges ol anded properties, the agreement for exchange should not become legally operative and enforceable until a la*psc of three months from the date of such agreement; during such period of three months either party to the exchange should be at liberty to withdraw from the transaction." Tt was further decided to ask the Land Agents' Association to consider the question of adopting a minimum rate of commission on exchange of properties* as against the present custom, which permits of full commission being charged to both parties to a contract.