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LAGOS STATE AUCTION LAW

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LIST OF LAWS OF LAGOS, [ALPHABETICAL]
A- C G – K M – I R – T
D – F L – L P – P U – Z

AUCTION LAW

ARRANAGEMENT OF SECTIONS

1.       Business of Auctioneer

2.       Auctioneer to hold licence

3.       Licences, Forms and Fees

4.       Licence for Individuals, Firm or Corporations

5.       Application for and grant of licence

6.       Refusal of Licence

7.       Enforcement Unit

8.       Security to be given Auctioneer

9.       Suspension or Revocation of Licence

10.     Register of Licences

11.     Auctioneer to accept sale of all property offered by owners

12.     Auctioneer’s licence not to authorise sale of intoxicating liquor

13.     Notice of sale of land

14.     Notice, catalogue and report of sale to be furnished to the Commissioner

15.     Auctioneer’s name and address to be published at sale

16.     Sales subject to a reserve, and vendor’s right to bid

17.     Where without reserve

18.     Where subject to reserved price

19.     Where right to bid reserved to seller

20.     Consequences of  seller bidding in the preceding cases

21.     Penalty on auctioneer receiving unlawful bidding

22.     Auctioneer may recover purchase-money

23.     Employment to sell by auction does not authorise private sale

24.     Rates of commission chargeable on auction sales

25.     Order of suspension or revocation of licence

26.     Savings as to sales in execution of decrees

27.     Auctioneer prohibited from preparing conveyances

28.     Auctioneer’s lien

29.     Vendor to indemnify auctioneer

30.     Breach of warranty of authority and fraud

31.     Power to make regulations

32.     Repeal and Re-enactment

33.     Interpretation

34.     Interpretation

35.     Citation

FIRST SCHEDULE – FORMS OF LICENCES 

SECOND SCHEDULE – LICENCE FEES

CHAPTER A12, LAWS OF LAGOS STATE, NIGERIA

AUCTION LAW

A law to provide for the licensing of auctioneers, to regulate sales by auction in Lagos and for connected purposes.

[F. & L. 1958, CAP. 187. L.N. 257 OF 1959. L.N. 112 OF 1964]

ARRANGEMENT OF SECTIONS

1.       Business of Auctioneer

Every person who sells any goods or land as at a sale where any person becomes or may become the purchaser of the same by competition and being the highest bidder, either by being the sole bidder, or increasing upon the biddings made by others, or decreasing on sums named by the auctioneer, or other person at such sale, or by any other mode of sale by competition shall be deemed to carry on the business of an auctioneer.

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LAWS OF LAGOS STATE

Alphabetical List 1999-2015 2015 Republication
By Subject Areas Latest Repealed

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