176
of the commutation of land premiums by way of addition to the rent reserved, should be gradually introduced, and accordingly by a clause was inserted his direction in the conditions of sale of a certain building lot which was advertised for auction, to the effect that the purchaser would have the option of commuting three quarters of the purchase money at five per cent. interest, and paying such commuted premium as additional annual rental.
The lot was sold and the purchaser availed himself of the option of commuting.
2.
The question, however, has now been raised as to whether the commutation of premium is in accordance with the instructions contained in the 6th paragraph of Earl Grey's despatch No. 222 of the 2nd January 1851, GR9644/50.
In the opinion
176
of the commutation of land premiums by way of
addition to the rent reserved,
should be gradually introduced, and accordingly
by
a clause was inserted his direction in the conditions
of sale of a certain building
lot which was advertised.
for auction, to the effect
purchaser
that the
chaser would
have the option of commuting three quarters of the purchase
at five per cent. percent.
money
interest
Co
You!
interest, and paying
commuted
such
ium as -
premium
additional annual rental.
The lot was sold and the
purchaser availed himself of the option of commuting.
2.
has
The question, however,
now been raised as
whether the commutation
to
ium is in accordance.
of premium
with the instructions contained
in the 6th paragraph of Earl
Toy Grey's despatch W: 222 of the
9644/50
The 2nd of January
18366/50
1851. In the
opinion
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