References: [1802] EngR 96, (1802) 3 Bos & Pul 55, (1802) 127 ER 32
Links: Commonlii
Ratio: The sales of the E. I, Company being subject to a reguIation that any buyer not making good the remainder of his purcbase money on or before tbe day limiited for such payment should forfeit the deposit, ‘and should be rendered incapable of buying again at any future sale until he shall have given satisfaction to the Court of Directors;’ Held that the term satisfaction must be held to mean pecuniary compensation for the non-performance of his agreement to pay on the appoinited day, and that a buyer having made default on that day, but afterwards within a further time given to him by the E. I. Company paid the remainder of the purchase-money with interest, might maintain an action against the E. I. Company for refusing to permit him to become a bidder at their sales, such sales being by 9 & 10 W. 3, c, 44, s. 69, declared to be public and open sales. – Quaere, Whether since the passing of 18 Geo. 4, c. 26, which regulates the deposits, forfeitures, and capacities of bidders at the tea sales of the E. 1. Company, the E. 1. Company can make or enforce any other regulations affecting those sales than such as the act of Parrliament has enacted
Jurisdiction: England and Wales
Last Update: 19-Nov-16
Ref: 344913
