Auc act as CHAPTER III. APPRAISEMENTS AND VALUATIONS. AUCTIONEERS are frequently called upon to act as tioneers appraisers, not only as a preliminary step to their auctionfrequently sales, but also in cases where they are not employed to sell appraisers. by auction. It is, therefore, the duty, as it will always be to the advantage, of every auctioneer to make himself well acquainted with the theory and practice of surveying, valuing and appraising the different kinds of real and personal property (a). As to appraiser's licence. A person acting as an appraiser (b) without a licence incurs a penalty of £50 (c). But a licence to act as an auctioneer is a licence to act as an appraiser also (d). The (a) It would be out of place in a work like the present to attempt to give full instructions for the efficient performance of this part of an auctioneer's duty, especially as nothing but a long course of observation and experience can make a good appraiser. But, with a view to rendering the book as generally useful as possible, brief rules and tables for estimating the value of the descriptions of property most commonly submitted to the hammer are inserted in the appendix. See post, pp. 441 et seq. For simple directions as to the use of logarithms the reader is referred to Rouse's Practical Man. (b) That is, as a person bearing the known character of an appraiser; Atkinson v. Fell, 5 M. & S. 240. (c) An appraiser's licence is an annual one and is subject to a duty of £2. See 46 Geo. III. c. 43, ss. 4-6; and 8 & 9 Vict. c. 76, s. 1, Appendix, post, pp. 390, 391. (d) Cf. ante, p. 14. By 24 & 25 Vict. c. 21, ss. 11, 13, a licensed house agent may act as appraiser, and vice versa, without additional licence. 7th section of 46 Geo. III. c. 43, enacts that "all persons who shall be duly licensed according to law to act as auctioneers shall and may act as appraisers without taking out any other licence" (e); and 8 & 9 Vict. c. 76, s. 1, by which the present duty is imposed on persons exercising the calling or occupation of an appraiser, expressly exempts licensed auctioneers from the duty (ƒ). It is a good defence to an appraiser's claim for work and labour that he was not duly licensed (g). and stamp, The Stamp Act, 1870, requires every appraiser, under a Formal penalty of £50, to write out every appraisement or valuation document, which he makes, upon duly stamped material, within appraisefourteen days after making it; and any one taking from an ment appraiser an appraisement not written out and stamped in when accordance with the act incurs a forfeiture of £20 (h). necessary. But it is important to observe that appraisements and valuations are exempted from the necessity of a stamp, and, consequently, of a formal document, in the following cases, viz: (1.) When made for the information of one party only, (g) Palk v. Force, 12 Q. B. 666; 17 L. J. Q. B. 299; 12 Jur. 797; decided on demurrer; cf. Leake, 744. As to auctioneer, see ante, p. 9. (h) 33 & 34 Vict. c. 97, s. 38. For the text of this section, and the scale of duties imposed by the act, s. 3 and schedule, sub tit. "Appraisement," see Appendix, pp. 406, 423, post. A broker called to prove the value of goods need not produce an inventory written on an appraisement stamp; Stafford v. Clark, 1 C. & P. 24, 25. An award stamp is not necessary, unless there be a submission of Award differences to the appraiser; and, therefore, where there was a reference stamp. to appraisers as to the value of goods, and nothing more, an appraisement stamp upon the written valuation was held to be sufficient, without an award stamp; Leeds v. Burrows, 12 East, 1; cf. Perkins v. Potts, 2 Chit. 399. Appraisement some times required by law. and not in any manner obligatory between (2.) When made by order of a court of admiralty; It is evident that an appraisement made for the mere purpose of preparing particulars and conditions of sale will fall within the first of the above exemptions (k). There are some descriptions of property, such as goods distrained for rent (1), and estates and effects seized under extents (m), which it is not lawful to sell without a previous appraisement (n); but even where no such legal obligation Trustees for sale. (i) This exemption was not expressly contained in any of the former acts granting duties on appraisements; but, nevertheless, it was held, before the passing of 33 & 34 Vict. c. 97, that a valuation made for the information of parties and not intended to be binding on them was not liable to an appraisement stamp, though an agreement was afterwards founded on its data; Jackson v. Stopherd, 2 C. & M. 361; 4 Tyrw. 330; cf. Atkinson v. Fell, 5 M. & S. 240. (j) 33 & 34 Vict. c. 97, s. 3 and schedule, sub tit. “ Appraisement"; see Appendix, post, p. 423. The 34 & 35 Vict. c. 103, s. 26, exempts from stamp duty "an appraisement or valuation of property of a deceased person, made for the information of an executor or other person required to record in any commissary court in Scotland an inventory of the estate of such deceased person." (k) A stamp is necessary upon a valuation required by the Tithe Commutation, Copyhold or Inclosure Acts; see 31 & 32 Vict. c. 89, s. 2. (1) See post, p. 279. (m) A writ of extent is issued for the purpose of enforcing execution on behalf of the Crown; see Broom, C. L. 204; 3 St. Com. 669. For form of such writ, see West on Extents, 55. (n) Trustees for sale should always ascertain the value of the property which they are empowered to sell; and they will be justified in going to the expense of a valuation, where circumstances seem to render such a course expedient; Sugd. 60; Lewin, 389; Dart, 79. So also with trustees for purchase, and receivers of the property of liquidating debtors ; Lewin, 452; Ex parte Gordon, L. R. 20 Eq. 291. exists, the auctioneer will always find a personal inspection and valuation a satisfactory step to take, preparatory to the holding of an auction. Without, at least, a general knowledge of the value of the property to be disposed of, he will find it impossible to do justice to his employer. He will find a preliminary valuation more particularly useful, when, as frequently happens, it devolves upon him to fix the reserved price, below which the property is not to be sold. of fix. upon sales of real It is not unusual, on sales by auction of real estate, to Separate require the purchaser to take fixtures, timber, stock and other valuations articles at a valuation, in addition to the price at which a lot tures, &c. is knocked down. This is commonly made the subject of a special condition of sale, providing for the manner in which the estate. valuation shall be made (o). But as such conditions tend to discourage biddings, owing to the uncertainty of the amount which may have to be paid, and as disputes frequently arise in carrying them into effect (p), it is better, if possible, to have the valuation made before the sale, in which case a fixed sum can be inserted in the conditions as the price at which the supplementary article is to be taken. If a obligations of ap It is a question how far an unskilful and incorrect ap- General praiser is entitled to recover his fees and expenses. person undertakes to perform a work of skill and labour, and praiser. fails therein, so that his employer derives no benefit from his work, he is not entitled to recover anything for his trouble (g). If a surveyor delivers an estimate greatly below the sum at which work can be done, and thereby induces a private person to undertake what he otherwise would not undertake, he cannot recover; but it is not a (o) See post, p. 93. (p) See 1 Chit. Prac. 829, 830; Dart, 221, 222; Leake, 639, 705, 958, 1135. (4) Duncan v. Blundell, 3 Stark. 6. neration; trifling deviation from an estimate that will prevent a party from recovering (r). A man should not estimate a work at a price at which he would not contract for it (s). Like every other paid agent, an appraiser must use due care and diligence in the performance of his duty (t); and he must not be content to go upon the information of others, even though referred to them by his employer (u). Amount of As regards the amount of remuneration for making a his remu- valuation properly, it is, perhaps, in every case a question for the jury whether the charge made is a reasonable one for the service rendered (v). Where a surveyor, who had measured building work and settled the tradesmen's bills, claimed 5 per cent. upon the sums allowed to the tradesmen, and evidence was offered that it was the uniform practice of surveyors to charge that rate of commission, Lord Kenyon, C.J., is reported to have said that the plaintiff was entitled to reasonable compensation for his trouble, but was not to estimate it by the money laid out by the defendant in finishing his building (x). But in a later case Lord Ellenborough, C.J., left it to the jury to say whether a commission of 5 per cent. upon the amount expended was a reasonable sum to be charged by a surveyor for superintending alterations in buildings, there being evidence that that mode of charging was customary (y). (r) Moneypenny v. Hartland, 2 C. & P. 378, 381. (8) Ibid. By an old statute of 11 Edw. I., the Statute of Acton Burnel, appraisers valuing extended goods too highly were compelled to take them at their own valuation. But this interesting specimen of the lex talionis has recently disappeared from the statute book: Stat. Law Rev. Act, 1863. (t) Moneypenny v. Hartland, 1 C. & P. 352; Turner v. Goulden, L. R. 9 C. P. 57. (u) Moneypenny v. Hartland, 2 C. & P. 378. (v) Cf. Ch. XII., post. (x) Upsdell v. Stewart, Peake, N. P. C. 193. (y) Chapman v. De Tastet, 2 Stark. 294. In Moneypenny v. Hartland, 2 C. & P. 378, Best, C.J., appears to have thought that a surveyor |