96 / 736
2 Office Administration
5/-By Post 5/9
3 Building Contracts
3/-By Post 3/9
It has also been arranged not to hold the usual
monthly meeting in March due to the proximity
of the Seminar.
The Wexford Seminar Publications on "Rent
Restrictions Acts" and "The Tax Advantages of
Company Formation"
have proved
extremely
popular and further copies can be had from the
Treasurer.
CORRECTION
The article under the heading of "Costs of Pro
bate—meaning of Value" appearing in the Octo
ber/November, 1967 Gazette requires clarification.
The artificial value sworn for probate
is not
rateable valuation multiplied by 50 as stated in
the article but rateable valuation multiplied by 25.
Rateable valuation multiplied by 50 applies only
to Land Registry business.
NEGOTIATION FEE
In MacGowan v. Murray (1891)
ICh.D. 105,
Bowen, L. J., says at page 116 :— "Negotiation, I
should have thought in the ordinary meaning of
the English language, is that which passes be
tween parties or their agents in the course of or
incident to the making of the contract and if the
negotiation is brought to such a close as leaves the
principal at liberty to say, 'I accept the offer', then
the agent has done all the negotiating an agent
can do, and within the rule he has arranged the
sale, the sale afterwards being effected." He also
referred to other passages from the judgements in
that case in support of his case.
CONDITIONS OF SALE
The Society have caused a new issue of the above
and of the agreement for sale (Private Contract)
to be printed. There is a slight difference in the
1968 edition as opposed to that issued in 1965.
Condition 28 (2) of the Auction form is altered
to provide that if the vendor has suffered no real
loss in the transaction the purchaser will get back
his deposit, but if the vendor suffers heavy loss
the purchaser looses it. This is considered reason
able and protects the vendor's solicitor.
In the case of Condition 26 (2) of the Private
Treaty form, a new clause has been substituted
which in most cases of Private Treaty Sales would
result in the purchaser getting back the greater
part of his deposit.
The alterations are made in the light of the
provisions of Section 45 of the Land Act, 1965.
BUILDING CONTRACTS
The Society have now prepared standard forms
of building contracts which will in the very near
future be available from the Society's office sold in
lots of one dozen. The price is 10/- per dozen
plus postage l/10d. The contract has been drawn
up with the co-operation and approval of the
Dublin
Solicitors
Bar Association
and
the
Southern Law Association and
is
intended
to
cover the erection of an ordinary private dwelling
house.
The Institute of Chartered Accountants in Ireland
(Incorporated by Royal Charter, 14th May, 1888)
To all Members in Practice
NOTES FOR GUIDANCE ON SOLICITORS'
ACCOUNTS REGULATIONS 1967
Joint Statement of the Incorporated Law Society
of Ireland and the Institute of Chartered Accoun
tants in Ireland.
INTRODUCTION
The Incorporated Law Society of Ireland have, in
exercise of the powers conferred on them by the
Solicitors' Act, 1954, made regulations dealing
with Solicitors' accounts which are known as the
Solicitors'
Accounts
Regulations
1967.
So
that the Law Society may satisfy itself that these
regulations are being adhered to by solicitors, it
makes provision under these regulations for the
furnishing, annually, of accountants' reports. In
his report the accountant must state that the
solicitor has complied with the regulations, or, if
he has not, give details of the manner of his non-
compliance. In order that the accountant may dis
charge his duty properly in
this context, it is
necessary that he be familiar with the regulations
and be able to interpret them correctly. The notes
which follow are issued to assist members in in
terpreting points in the regulations which give rise
to difficulty. They should be read in conjunction
with the Solicitors' Accounts Regulations 1967
(S.I No. 44 of 1967) which can be obtained at the
Government Publications Sales Office, G.P.O.
Arcade or through any bookseller. It must be
pointed out that the interpretation given in these
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