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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.

© 1867 Crown Copyright

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