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303
to it should be agreed upon between the parties. This could not
be done, and solely for this reason the Chief Justice subsequent-
-ly declined to allow a Jury. The suggestion made by the Chief
Justice was in fact impossible to give affect to, it being
well known that such questions can only usefully be framed
after the hearing of the evidence.
The property in question, the original
value of which had much decreased through general depression in
land sales, was undeveloped. It was intended to be put up to
public auction by the Mortgages, but was withdrawn at the re-
-quest of the Mortgagor, Li Po Yung. It was then offered private-
-ly to various leading individuals and Companies in the Colony
who deal in land but without effect.
A certain Chinaman was then approached (the
defendant to the counter claim) who made an offer of $180,000
which was accepted. This was the best offer received.
The Chinaman then, as an ordinary matter
of business, formed a syndicate to purchase and develop the
property; and some 16 houses were then erected.
The claim to set aside the sale was only
made after the property had been developed and after the pur-
-chaser had entered into a special undertaking with his Mort-
-gagees to provide the necessary funds for the development of
the property.
The charge of fraud and collusion appears
to have been based on the fact that two members of the syndicate
to purchase were in the employ of the Hip On Insurance Co. (the
original mortgagees who sold to Kwok Vik Ling.)
These men, however, between them only
contributed a very small proportion of the total sum, some five
to ten thousand dollars out of the total of nearly three lacS
subscribed to purchase and develop the property.
The case was tried without a Jury, the sale
was set aside and no compensation ordered for the money ex-
-pended
Page 390Page 391
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