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SALE OF PROPERTY BY AUCTION SALE – CONDITIONS FOR VALIDITY OF SALE OF PROPERTY BY AUCTION SALE

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“On conditions for validity of sale of property by auction sale, this Court in Omidiji V. FMB (2001) 13 NWLR (Pt. 731) 646®p. 668 had opined inter alia thus:
For the purpose of supporting the validity of such auction sale, the burden is on the person exercising the right of sale or whose duty it is to ensure adequate notice to prove that the provision of as to notice was duly observed. Accordingly the responsibility placed upon an auctioneer who conducts a sale of property Is very strict, and this includes giving appropriate and sufficient notice of the Intended sale….the employment of an auctioneer to sell any property by public auction does not authorize him (auctioneer) in case the public auction proves abortive, to sell the property by private contract.…” –  PER B. A. GEORGEWILL, J.C.A, in

MR. G. OLAJIDE ASHCROFT Vs HERITAGE BANKING COMPANY LIMITED & ORS [2018] legalpedia CA/L/774/2007 https://legalpediaonline.com/mr-g-olajide-ashcroft-vs-heritage-banking-company-limited-ors/


   
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