Auctioneers Their Duties And Liabilities PDF Download

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1879 edition. Excerpt: ... When a man's personalty consists of shares or stocks in the public funds, they are quoted for the purpose of paying duty at the market price of the day, on which a valuation of the effects is made for probate, and they are usually again quoted at the market price of the day, when the residuary account of the personal estate and effects of the deceased is rendered to the Inland Revenue authorities. A considerable fluctuation may have taken place between the two events. If these shares or stocks are not quoted in the market, the executor will have to procure a certificate or estimate from the party most competent to judge. If they are mining shares, the executor may get a certificate of value from the purser of-the mine. If they are shares in a small limited liability company, not quoted in the market, then a certificate from the secretary of the company is usually sufficient. Many practical illustrations might be afforded, but within the scope of a work of this kind it would be impossible to set them out. What our endeavour has been is to enlighten the pupil upon the ordinary points for consideration coming within the limits of his business experience, to which he must bring to bear the intelligence and aptitude of a business man. Chapteb VII. On the Auctioneer's general practice. An auctioneer is, in general, not merely an individual who submits property for sale by public auction. In the course of his business he has various other duties and occupations which are specially adapted to his calling. He collects rents, effects insurances, levies distresses, negociates loans on mortgage, and is frequently the middle man between the borrower and the lawyer, he effects sales of businesses, lets properties, and engages in a variety of other...