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SALE OF LAND BY AUCTION ACT 1867

SALE OF LAND BY AUCTION ACT 1867 - LONG TITLE

An Act for amending the Law of Auctions of Estates.
[15th July 1867]
Short title.

SALE OF LAND BY AUCTION ACT 1867 - SECT 1

1. This Act may be cited for all purposes as "The Sale of Land
by Auction Act, 1867."

S.2 rep. by SLR 1893

SALE OF LAND BY AUCTION ACT 1867 - SECT 3
Interpretion of terms.

3. "Auctioneer" shall mean any person selling by public auction any
land, whether in lots or otherwise:

"Land" shall mean any interest in any messuages, lands, tenements,
or hereditaments, of whatever tenure:

"Agent" shall mean the solicitor, steward, or land agent of the
seller:

"Puffer" shall mean a person appointed to bid on the part of the
owner.

SALE OF LAND BY AUCTION ACT 1867 - SECT 4
Sales of land invalid in law from employment of a puffer to be
also invalid in equity.

4. And whereas there is at present a conflict between Her Majesty's
courts of law and equity in respect of the validity of sales by
auction of land where a puffer has bid, although no right of
bidding on behalf of the owner was reserved, the courts of law
holding that all such sales are absolutely illegal, and the courts
of equity under some circumstances giving effect to them but even
in courts of equity the rule is unsettled: And whereas it is
expedient that an end should be put to such conflicting and
unsettled opinions: From and after the passing of this Act whenever
a sale by auction of land would be invalid at law by reason of
the employment of a puffer, the same shall be deemed invalid in
equity as well as at law.

SALE OF LAND BY AUCTION ACT 1867 - SECT 5
Rule respecting sale without reserve, &c.

5.... The particulars or conditions of sale by auction of any land
shall state whether such land will be sold without reserve, or
subject to a reserved price, or whether a right to bid is
reserved; if it is stated that such land will be sold without
reserve, or to that effect, then it shall not be lawful for the
seller to employ any person to bid at such sale, or for the
auctioneer to take knowingly any bidding from any such person.

SALE OF LAND BY AUCTION ACT 1867 - SECT 6
Rule respecting sale subject to right of seller to bid.

6. And where any sale by auction of land is declared either in
the particulars or conditions of such sale to be subject to a
right for the seller to bid, it shall be lawful for the seller or
any one person on his behalf to bid at such auction in such
manner as he may think proper.

SALE OF LAND BY AUCTION ACT 1867 - SECT 7
Discontinuance of practice of opening biddings, on sale of land by
order of Court of Chancery.

7. ... The practice of opening the biddings on any sale by auction
of land under or by virtue of any order of the [High Court of
Justice in Northern Ireland] shall be discontinued, and the highest
bona8 fide bidder at such sale, provided he shall have bid a sum
equal to or higher than the reserved price (if any), shall be
declared and allowed the purchaser, unless the Court or judge shall,
on the ground of fraud or improper conduct in the management of
the sale, upon the application of any person interested in the land
(such application to be made to the Court or judge before the
chief clerk's certificate of the result of the sale shall have
become binding), either open the biddings, holding such bidder bound
by his bidding, or discharge him from being the purchaser, and
order the land to be resold upon such terms as to costs or
otherwise as the Court or judge shall think fit.

SALE OF LAND BY AUCTION ACT 1867 - SECT 8
Saving.

8. Except as aforesaid, nothing in this Act contained shall affect
any sale of land made under or by virtue of any order... [of the
High Court of Justice in Northern Ireland]... or of any county or
other court having jurisdiction in equity.