EXCHANGE OF PROPERTIES.

Wairarapa Age, Volume XXV, Issue 10713, 9 May 1913, Page 5

EXCHANGE OF PROPERTIES.

ACTION TAKEN IN CHRISTCHURCH. LEGISLATION TO BE. ASKED FOR (fly Telegraph.—Press Association.) CKMSTCHURCH, Last Night. The Chamber of Commerce convened a meeting to consider what steps should be taken to combat the abuset arising out of the exchange of properties. Delegates were duly appointed by their associations, representing the Chamber of Commerce, Canterbury Law Society, aed Canterbury Land and Estate Agents Association. Many instances were cited, show the evils to which the practice had led, and several suggestions were made as to dealing with other than bona fide cases~ Finally, it was re solved to ask uie Chamber of Commerce to communicate the following resolution to tfte Goveruwnent, with the object of bringing in legislation to overcome the objectionable features of this class of business, which has been so adversely criticised by the Judges and Magistrates: "That in all cases of exchanges of landed property, the agreement for exchange should not become legally operative and enforceable until the lapse of three months from cue time date of such agreement. During such period of three months, either party t othe exchange should be at liberty to withdraw from the transaction." It was further decided to ask the Land Agents. Association to consider the question coadopting"a minimum rate of commission on the exchange of properties, as against the present custom, which'permits of full commission being charged to both parties to the contract. -