PART III. If the vendor is guilty of any wilful misCAP. III. representation, which induced the purchaser Wilful mis- to enter into the contract, he may refuse to complete it. (Rosc. 368; Chit. Con. 609–614.) 570. representa tion by vendor. Sale with out stipulation as to price. Neglect to pay price. Effect of of a contract Sale of Where no price is fixed, the vendor is entitled to receive their fair value, or, in the absence of proof as to their value, the lowest price of goods of that description. (Sm. Merc. Law, 504, 529; Morton V. & P. 70, 71; Ad. Con. 167, 1057.) 571. In case of the neglect of a purchaser to pay for goods delivered, the vendor may recover the price, in an action for goods sold and delivered. (Sm. Merc. Law, 527; Ad. Con. 1057.) 572. A stipulation or enactment that a sale. shall be void on breach of a condition by one party, only renders it void at the election of the opposite party. (Sm. Merc. Law, 509; Ad. Con. 193.) 573. The mere sale of the goodwill of a business will not prevent the vendor from setting up a similar business, even next door to the purchaser, or soliciting the custom of his former customers. But if he has engaged to abstain from carrying on a similar business, he will then be bound, provided the restriction be within reasonable limits. And he is TIT. II. not at liberty to set up a precisely similar PART III. business under the old style or firm, although CAP. III. his name be the only one which, with the addition of the words "and Co.," constitutes the old style of firm. Nor is he at liberty, in any other manner, to hold out that he is carrying on business in continuation of, or in succession to, the business carried on by the old firm. The mere sale does not oblige him to introduce the purchaser to the customers, or to recommend him to them, or to do any one act for the purpose of giving effect to the sale. But if the vendor has expressly engaged to do any such specific act, he will be compellable to do it, or may be made to pay damages for the breach of his agreement. (Sm. Law of Prop. 5th ed. par. 1688, 1689.) 574. and cove At Law, contracts and covenants to sell, Contracts convey, or transfer land or other property, nants to sell or transfer property do are considered simply as personal and execu- not consti tute a legal tory contracts and covenants, and not as charge. attaching to the property in any manner as present or future charge or otherwise. (Sm. Law of Prop. 5th ed. par. 1698.) 575. Sales made by unauthorized weights or sales by improper measures, or by weights or measures not weights and stamped, or found light or unjust, are void. measures. TIT. II. PART III. (Ad. Con. 218; Sm. Merc. Law, 535; 5 Geo. IV. c. 74; 6 Geo. IV. c. 12; 5 & 6 Will, IV. c. 63, s. 6; 22 & 23 Vict. c. 56.) 576. CAP. III. Sale of coals. Sale of liquors. Sale of cer tain articles Coals must be sold by weight, and not by measure; and must be weighed, if required by the purchaser; and a ticket in a certain form must be delivered to the purchaser of any coals exceeding 560 pounds, delivered within 25 miles from the General Post Office; otherwise the vendor cannot sue for the price. (Ad. Con. 218; Sm. Merc. Law, 535; Chit. Con. 383.) 577. No one may sue for the price of spirituous liquors, unless the debt has been contracted at one time to the amount of 20s. or upwards; nor may any item in an account for distilled spirituous liquors be allowed, where liquors delivered at one time and mentioned in such item do not amount to 20s. at the least. But this does not apply to liquors delivered at the purchaser's residence in quantities of not less than a reputed quart at one time. (Ad. Con. 219; Chit. Con. 386; 24 Geo. II. c. 40, s. 12; 25 & 26 Vict. c. 38.) 578. The sale of certain drugs and articles to brewers. to brewers is prohibited. (Ad. Con. 219.) Vendors and purchasers 579. The subject of vendors and purchasers of real estate and chattels real is one which is PART III. TIT. II. CAP. III. con- of real estate and chattels more peculiarly connected with Equity and Conveyancing; and the student is sequently referred to the books on those real. branches of law for information on that subject. 580. 250 CHAPTER IV. MORTGAGORS AND MORTGAGEES, PLEDGORS I. Mortgagors and Mortgagees (a). PART III. A LEGAL mortgage is a security, created by TIT. II. CAP. IV. means of a transfer, by a debtor to his Legal mortgage defined. Mortgagor and mortgagee's estate and rights. creditor, of the legal ownership of real or personal estate, subject to be defeated on the discharge of the debt. (Sm. Law of Prop. 5th ed. par. 986-995.) 581. So long as the mortgagor remains in possession, the mortgagee's estate is not absolute, even at Law. For, by the stat. 15 & 16 Vict. c. 76, ss. 219, 220, if an ejectment be brought by the mortgagee, and no suit be pending in any Court of Equity for redemption or foreclosure, the payment of principal, interest, and costs shall, except in certain cases, be deemed a satisfaction of the mortgage, and (a) On this subject (which is but slightly noticed here, as being more peculiarly connected with Equity and Conveyancing) the student is referred to the author's Law of Property, 5th ed., and the works therein cited. |