Market Value versus Impressment Price D ESCRI BING the prevailing custom
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of allowing Purchasers a discount, in some form or other, on the listed price as being a " most capricious arrangement," Judge Sir Gerald Hurst, at Tonbridge (Kent) County Court, on April 18, granted a certificate of valuation in respect of a 51-ton lorry, formerly owned by a local contractor and impressed by the Army authorities early in September last.
The case was described as being the first of its kind, and the Judge granted a certificate for £405, including costs of £25 against the Army Council. Following the commandeering of the vehicle the owner was paid only £275.
The applicant, Mr. Charles Wallin, said the lorry was first on the road on January 7, 1938, and its mileage when impressed was 31,560. Applicant paid a total of £467 10s. 'for the lorry, including the cab, and received t. allowance of about £80 by way of discount and part exchange. He was
unable to obtain another lorry of the same make and type with which to carry on his work.
The chief sales manager of the maker concerned said his company did, on occasion, make allowances to customers and this was, to some extent, due to the fact that concessions would be made by competitors. He felt that the value of the lorry would have been between £300 and £350 in a competitive market, and under peace-time conditions.
In summing up, the Judge said that it was difficult to arrive at a basis for settlement, in view of the fact that it seemed to be the custom to allow discount in cash transactions, and this made the case puzzling. He would, therefore, base his estimate on what he considered the average buyer of a new lorry would have paid, and this was about £500. The market value of the vehicle in September last would, he thought, have been about £380.