BARGAIN, SALE AND EXCHANGE. 



be none of the purchase-money paid, no earnest given, or 

 no day set for payment, the seller may at any time sue the 

 buyer and recover his money. 



Where the price is under 10/., and the seller states what Where neither 

 he asks for his Horse, and a buyer says he will give it, the ^^^^ ^^^ ^^ 

 bargain is struck, and neither of them are at liberty to be 

 off, provided that immediate possession of the Horse or the 

 money be tendered by either side («) . 



Anciently, among all the northern nations, shaking of Striking a 

 hands was held necessary to bind a bargain, a custom which ^^'^^o^^^- 

 we still retain in many verbal contracts. A sale thus made 

 was called a //and sale, " venditio per mutuam manuum com- 

 pkxioiiem" (o). This method of striking a bargain is very 

 much practised in the north of England at the present day, 

 both in horsedealing and other transactions ; and whatever 

 efficacy it may be supposed to have from custom in small 

 dealings, it certainly does not bind the bargain where the 

 Horse is worth 10/. or upwards, or where the agreement is 

 not to be performed within a year. 



Where the contract for the sale or exchange of a horse Contract not 

 is not to be performed within a year, the agreement itself ^J^ ^® ?®^',, • 



^ , , P -J 1 1 • "i- 1 lormed ■witmn 



or some memorandum or note oi it must be m writing, and a year, 

 be signed by the party to be charged or his agent, within 

 the 4th section of the Statute of Frauds (p). 



The words of the 4th section of the Statute of Frauds Statute of 

 applicable to a contract of this description are as follows : ^^^^^' ^- • 

 " And be it enacted, that no action (q) shall be brought 

 upon any agreement that is not to be performed within 

 the space of one year from the making thereof, unless the 

 agreement upon which such action shall be brought, or 

 some memorandum or note thereof, shall be in writing, 

 and signed by the party to be charged therewith, or some 

 other person thereunto by him lawfully authorized." 



A contract not to be performed within a year is very Requisites 

 seldom made in buying or selling a Horse ; and it will be under s. 4. 

 seen that the only distinction between the 4th and 17th 

 sections of the statute is this, that under the 4th section 

 the whole contract must be in writing, including the con- 

 sideration which induced the party to make the stipula- 

 tion ; whereas under the 17th section it is sufficient if all 

 the terms by which the defendant is to be bound are stated 

 in writing so as to bind liini (r). 



(«) Cooper V. Andreivs, Hob. 41 ; (i^) 29 Car. 2, c. 3. 



Noy's Max. c. 42; 2Bla. Com. 447. (7) Leroux v. Broioi, post, p. 25. 



(0) 2 Bla. Com. 448. (/) Marshall v. Lynn, 6 M. & W. 



