U6 THE SHEEP AND WOOL INDUSTRY 



Below is a list of the conditions under which wool is sold in 

 most of the Australian States. 



CONDITIONS OF SALE. 



1. The highest bidder shall be the purchaser the vendor reserves to himself 

 the right of one bid ; and if any dispute arise among the bidders for any lot, 

 it shall be decided by the auctioneer, unless one of the claimants will advance ; 

 in which case the lot shall be put up again , the bidding to be then confined to 

 the disputing parties. 



2. The goods shall be weighed by the warehouse-keeper and taken away 

 within fourteen days from the date of sale at the buyer's expense, and shall be 

 paid for in cash before removal. During the said fourteen days (unless re- 

 moved previously, or during such time as the goods shall remain unpaid for 

 in the custody of the brokers, notwithstanding that the said fourteen days 

 shall have expired), such goods shall be held covered by the brokers against 

 loss or damage by fire to an amount not exceeding the invoice value thereof, 

 and subject to the terms, conditions, and settlement of the policies of insurance 



' effected by the brokers. 



3. During six days from the time of sale every reasonable facility will be 

 given by the warehouse-keeper for the examination of any portion of the bulk 

 not previously seen, and should it appear to the purchaser that any bale or 

 bales materially differ from those exhibited at the time of sale, any dispute or 

 claim made by the purchaser in respect of such difference shall (if not forth- 

 with arranged) be referred to the decision of two impartial persons one to be 

 chosen by the selling broker, the other by the purchaser who shall, if they 

 disagree, nominate an umpire, and the award of such arbitrators or umpire 

 shall be conclusive on the parties, provided the same be made in writing 

 within the said six days. And neither party shall be at liberty to institute 

 proceedings at law or in equity against the other during the said six days, or 

 until such dispute shall have been submitted to arbitration, as aforesaid, and 

 the arbitrators or umpire shall have neglected or delayed to give their or his 

 award to the disputants during the said six days ; and, if the decision of such 

 arbitrators or umpire be in favour of the purchaser, then he shall be at liberty 

 to cancel the sale by giving notice in writing of his intention to do so to the 

 broker, during business hours, before the expiration of the said six days, and 

 on such cancellation, the vendor shall be under no further liability in respect 

 of the said sale. The cost of the arbitration and award to abide the event ; 

 and if through any neglect or omission on the part of the buyer the matter in 

 dispute shall not be submitted to arbitration as aforesaid, the sale shall be 

 held good and valid, and the purchaser shall be bound to accept the property 

 sold. And this condition shall not prejudice the vendor's right under the other 

 conditions herein contained. 



4. All goods shall be at the risk of the purchaser at the expiration of six 

 days from date of sale (save the fire risk on goods not paid for, as provided 

 in Clause 2 hereof), after which no allowance will be made for faults, errors 

 of description, difference of weights, or other claim of whatever nature or 



