the day of the sale, on his giving security to the amount of the valuation, that the property, and all its appurtenances, and the slaves, and stock attached thereto, shall be duly forthcoming when called for, unless the court, on petition of creditors or others interested therein, see fit to place some other person in possession. (a)

The sale cannot take place in less time than three months after the levy. The day appointed for that purpose must be announced by advertisement, which is to be thrice repeated in a journal in St. Lucia, describing the nature of the property, where situated, what quantity of land in cultivation and produce, how much in pasture, the number and kinds of live stock, with the buildings, and such other particulars as may appear necessary; the number of slaves to be specially mentioned, and distinguishing the sexes, and how many under ten years of age. When these points are each generally set forth, errors of number or in particulars, with respect to any of them, will not annul or avoid the proceedings, except they are such as in the judgment of the court to render the advertisement insufficient for the purpose of conveying an adequate description of the situation, nature, and probable value of the property. This advertisement, besides the publication in a journal in St. Lucia, is to be called and proclaimed three different times, not less than eight days between each calling, in the Market-place, or in front of the Courthouse in Castries, also at the parish church, or principal village in the quarter where the estate is situated, and it must be inserted once or oftener if the parties wish, in the Barbadoes, or any other colonial newspaper. The first advertisement must be at least two months previous to the day of sale. If the sale be postponed for a period of less than three months, the advertisement must be repeated once in a journal in St. Lucia, at least fourteen days before the sale; but if it be postponed for a

(a) Cl. 4.

longer period, the whole of the forms as to advertisements, must be renewed. The sale must take place by three public outcries, on three days successively, in presence of the court. (a)

The payments must be made by five equal instalments, the first to be paid down, and the others annually, with interest at the rate of £5 per cent., to be charged from the day of sale till the whole purchase money is paid. Sufficient security must be given for the payment of the second instalment; and in case of the non-payment of any instalment the whole property may, after a simple notice, be re-entered and resold at the purchaser's risk. (b)

The price may be directed, when necessary, to be brought into court, to await the usual order of distribution, or marshalling the assets, which is done according to the privilege or priority of the respective claims of creditors as settled by law, and where creditors are on the same footing, the price is distributed among them, share and share alike. The balance, if any, after payment and necessary costs, is returned to the late owner. (c)

After the sale the liens of creditors on estates sold by process of law attach only on the proceeds of the sale. The estate itself passes, clear of all previous incumbrances, into the hands of the purchaser. (d)

Errors of form can be pleaded by those only whom they directly concern; they must be set forth previous to the sale, and not in any case afterwards; and if they are proved to exist, the proceedings which may have taken place subsequently must be renewed, but the proceedings which preceded the error or omission continue valid. (e)

On the petition of a debtor, or of creditors to one half

(a) Cl. 5.

(b) Cl. 6.

(c) Cl. 7.

(d) Cl. 8.

(e) Cl. 9.

in number and amount of the debts due, the court is empowered in its discretion, and on sufficient proof obtained that there is ample cause for so doing, to stay the sale of the whole or any part of the estate. If it appear advisable, on occasion of any such postponement, to place the management of the property in the hands of a receiver, sequestrator, or trustee, it is competent for the court, after hearing the debtor and creditor, to appoint such person as may be named by them, provided they agree in the selection of such person, and such person be approved of by the court, or otherwise the court itself may appoint a person to the management of the estate, on taking the usual security. But the court cannot, on any equitable grounds, or by reason of an appointment of a receiver, sequestrator, or trustee, suspend the sale for more than six months at any one time, by any one order, or for more than one year in the whole by successive orders. (a)

(a) Cl. 10

SECTION II.

SALES BY AUCTION AND JUDICIAL SALES UNDER THE LAW OF SCOTLAND.

General principles on which sales by auction are governed.-Stipulations in articles of roup.-Title by judicial transference, or sale in execution.— Origin and nature of apprizings.-The redeemable title of the creditor.— Adjudication substituted for them.-Special and general adjudications.Effect of the decree of adjudication.-Time within which debtor might redeem.-Mere expiry of legal not sufficient to foreclose. The pari passu preference amongst adjudgers.-Description of the first effectual.-Computation of the year and day.—Publication.—Objections to the grounds of adjudication. To warrants of decree.-The action of judicial sale, and ranking, origin and progress of.-Appointment of sequestrator and factor. Of common agent and committee of creditors.-Exposing the property to sale.-Security given by purchaser.-Payment or consignation of purchase-money.-The title and protection conferred by a judicial sale. How far affected by defects in the proceedings.-Remedy in case of eviction by third parties.-Effect of description of, and representation as to the subjects of the sale.

THE leading principles of the law of Scotland in relation to sales by auction are collected in a note by the learned editor of Erskine's Institutes.

On the part of the vendor the roup must be conducted with the strictest bona fides. There must be no attempts to raise the price by undue means, but the sale must be made in such a manner as that the property may ultimately fall to the highest real bidder. On the part of the bidders there must be no conspiracy or other unfair means to depress the price, or in any manner to prevent a free competition. It is illegal for the vendor, either by himself or his agent, or through the medium of the auctioneer, a white bonnet, or any other acting for his behoof, to buy in the subject, or to raise its price by bidding, and thus create a fictitious and unreal competition. Sales effected under such circumstances have been set aside as fraudulent, and the bona fide bidder, if

the property has fallen to him, is entitled wholly to repudiate the purchase. So, if the property has been bought in for the vendor, the last and highest real offerer is entitled to insist on being preferred, at the sum fairly bidden by him before the first illegal bidding by the vendor. (a) So also, it has been found illegal, in the sale of a sequestrated estate, even where the trustee was the exposer, for the bankrupt, either in his own person or by employing another, to bid for the subject. (b) On the other hand, where the offerers at a public sale had combined to prevent competition, and thus enabled one of their number to buy the subject at an under-value, the proceeding was held to be fraudulent. (c)

Articles of roup sometimes contain a stipulation that the highest offerer shall, within a given period, either pay or give certain securities for the price; failing which, he shall forfeit his right, and the immediate preceding offerer be preferred. Under such a clause it has been decided, that, rebus integris, the next highest offerer is not entitled to insist on the forfeiture, the exposers being still willing to accept payment or security from the highest. (d) But, on the other hand, where the exposers, on failure of the highest offerer, have made intimation, and formally called upon the next in order to implement his obligation, this gives to the latter a right to demand reciprocal performance, which no equitable consideration in favour of third parties can take away, and entitles him to have the forfeiture strictly enforced against the highest offerer. (e)

(a) Erskine, b. 3, tit. 3, § 1, note. Grey, July 7th, 1753, Dict. p. 9560. Watson, July 19th, 1743, Dict. p. 4894. Cree, Dec. 1st, 1810, Fac. Coll. (b) Anderson, Dec. 16th, 1814, Fac. Coll.

(c) Murray, March 1st, 1783, Dict. 9567. Dict. ib.

Aitchison, Feb. 28th, 1783,

(d) Walker, Feb. 10th, 1787, Dict. 14,193. (e) Hanway, July 15th, 1788, Dict. 14,194.

Cred. of Currie, Dec. 13th,

1791, Dict. p. 3162. Davidson, Jan. 19th, 1815, Fac. Coll. Johnson's Trustees, Jan. 19th, 1819.