Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1853-09-13
from The n. Y. Journal Of Commerce.

BUYING WHEAT TO ARRlpE-There Is no httl5
ineres excited present. by The discussions al The Corn
Exchange 10 The proper course 10 be pursued III regard
for wheat, where the cargo which has been
cold 80 aIriye,n inferior 10 The sample. There
claim that tho sellers here. who mostly commits
merchants do not make the contract in perfect good
faith snpp0sng that the sample which has been forward.
ed by express fairly represents the cargo But hr qurs
lion is it, any cause, the cargo s not good =
sample, what ought 10 constitute the basis ni settlement!
briween The parties A. sells Ia B. ~ UOJ bushels o
wheat sy given sample, be- delivered on the hts OF
OarObe and does sprc:iy in his sale any particular
cargo he is bound 10 deliver wheat az good as me snPe
or pay damages for Ihn falling But if A sells cargo
Of wheat arrive by the boat John Brown, as white
Oaio showing handsome sample of that qualify and II
out, arrival To be red Ohio or an inferior qnal
~ of mixed, he may laccordins 10 recent decls'n al
Corn Exchangrl simply say 10 the buyer "lecrc ie
n wheat acknowledge il is not as good us the samPe
you take il or leave H." But suppose that mas
his freight engaged for The wheat or iaS purchaser IT
~, f,.iga nder the failure 10 fill which, may Involve
much Trouble, and the price since the date :" pur
chase has also advanced how is he 10 be ihaInhIilcl
or his loss There seems to be no question ina. 'e ur
ci*iOn OF abtralor al lr Corn Exchange was IN ac
rnrdanCe with the ordinary custom OF the rade but s
Ills custom itsef riahl2 We mean, OF course, morally
rshi; Tor as legal settlement OF contract, we doao
Whether roi be- sGslainri Extend The principle TO ONE
trades :Suppusc T.. exhibits sample OF iron rais and
rs sale ui the same quality 10 arrive by given
sse is rail road contractor and makes the purchase
to- enters into engagements TO ay the fon anu
has his wnr.mcn ell ready whiting The arrival ot the ship
when comes he examines the csg" and hnds maj u -
not all like the samp but very nierIor qualify when
he cannrt use Is il enough tell him he may take II or
leave i. ~ What vii! the Rail Road Company say to nun
he tells them that The cargo ne has purchased, WIN
nt wrrl They will tell him that il is not their affair,
aud h.t if he subjects them sny delay they will have
damages But the market is nov higher and The article
SCARCE Is not WIN sold him the iron obliged to
iunish him from quarter cargo as good as me sam
pie compensate him for the disappointment The Corn ES
change says no; Out we lancy lha' common JUSTICE "o'
say YES"
The commission merchants who sell BY The samples sent
them by their cunsignors are class, very h"noraole
,t n aud would knowingly msrepresen the quahy ol
. ,I,, .F thn - I'm Ihr
s sent forward TOO good sample ought not ne 10 suer
m IT, inseai vi buyer who has contracted Tor Ii IN soon
faith and made his arrangements receive t3 we nave
received the following communication on TINS snoec' rom
buyer who has Just submitted to an adverse uec'soh ~ Tue
Corn Exchange ana who, deeming himself h.gfieFeu' pre-
scn,s his views Of the matter Ihefe may "e solhe
ounds for the decision which do noI UNDERSTAND onl
We think that The principle upon which It appears u De
5Iscr, is somewhat questionable
[For the Journal Of Commerce.
MrsRs EDIToRs the present time when the trsnsac
lions are large the Corn Exchange and made TO consa
Bile extent for future delivery and ITO arrive II Is mat
ter Of interest man know something OF the cste
or laws governing operations sale was 'naae on
the 2ih August by Mr. r. of 500 bushels Canadian "hca,
cx sc koyalist" as per sample 10 DC oe,Ytea M ~ a ~
nrxt week say 81 Sept Such the terms ot me sale as
noted down by The seller. Within the time specnra tue
wheat arrives and proves, upon examination Inferior ~
sample The market in The meantime has advanced na'e,l,
;y The buyers demand wheat equal 10 sample lurnseo
by .ec und by which the wheat was purchased or TO-
Jucor IN the price equal The difference in value between
wheat similar The sample and the wheat rendered on su
JJ srI, cl inns that the buyer take the wheat nc
oilers 10 deliver the SALE without respect TO its cores
pondino or nol with the sample bought by or unnn INC
cpnrac in toto The whole matter was lett 10 the declsloh
n The late Secretary D the Corn Exchange ana sehe
man of The arbitration committee They aeihe uhape W. "
,nrce called in as third party the President 0! le Non
ych,nue when decided that the buyer nns' hccep'
rhe whtII offered and pay The u'l contract price, hot"
standing its infcrinry 10 the sample, or ahnu 'c
IN io; such having been the common custom ~ race 'IsU
!, was common law. Now, If any legal gentleman WIZ
,,vrrhau his log and when found make note o' an!
authority or precedent for such decision lie may Gu"
me and lake not my hat but voucher Tor one ol uch
;nsr rbnl il has been the common custom among sphie
dealers in uran" the writer adms and II was 10 Dfeah ~
un,n ,a custom that the buyer made stand ~ 'S ease
~, Tho nrcunjarr amount Issue was ns4nhcan' ms
Jecson made by the iaynnts o the insu'int may W
,,scr As settling The principle rather the wnnt o primer
n he The Arbitration Committee when deciding on o.n'f
and the charter OF the Corn Exchange pfocs
,ha all uwsIds or decisions, made 10y lla Coilhi,'ee
sh,I nor be- subject be removed reversed hodhcn OF
,nneard from by the parties Interested IL s'ai's NOSE ~
Yho NAV ha We differences Of like nature lor reference
m knuw whether committee s composed o those Who
some idea Of law ard common sense as wen as
c,,,unn law and common custom.
INC inference from the decision above gwen, certainty ~
mn, in The rual code statute law and common law occupy
reverse posons, from that in the Corn Eschahgc coot
iha when common law, founded on comnoh cuspm tor
that custom right wrone) decide ease seps IN ETA
iure lave must "step out J. =. =