I8.207 The seller

I8.207 The seller

The hypothetical vendor is an anonymous, imaginary person who is regarded as being honest and reasonable, a willing and not a forced seller1. On the one hand he must not be deemed to sell at a low price for any reason, such as an urgent need for money, but on the other hand he cannot be supposed to refuse to sell and hold out for an unreasonably high price2. Harman LJ said that the vendor '…cannot simply call off the sale if he does not like the price…'3. HMRC Shares and Assets Valuation have confirmed that they

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