PETERSON V. THE COMMONWEALTH OF AUSTRALIA 12/1943

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HL J, Greea, Gort. Print, Melb.

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IN THE HIGH COURT OF AUSTRALIA.

PETERSON

v.

THE COMMONWEALTH OF AUSTRALIA

and

STENHOUSE & ORS. v.

THES COMMONWEALTH OF AUSTRALIA

REASONS FOR JUDGMENT.

High Court of A

(DAY one Sea TUEYs 19

Y

PETERSON v. THE COMMONWEALTH OF AUSTRALIA

STENHOUSE & OTHERS ¥v. THE COMMONWEALTH OF AUSTRALIA

JUDGMENT STARKE J.

In these actions the plaintiffs claim compensatien in respect of field peas, known as blue peas, acquired by the Commonwealth om the 29th January 1942 pursuant to the National Security (Field Peas Acquisition) Regulations.

The claim is based upon reg. 12,which provides that the rights and interests of every person in field peas shall upon acquisition be converted into claims for compensation.

The Commonwealth pursuant to the regulations acquired from Peterson, who was a farmer and grower of field or blue peas in Tasmania, 2,563 bushels of such peas, A grade, of which he was the owner or possessor.

The Commonwealth also pursuant te the regulations acquired from Stenhouse & Co., whe were produce merchants in Tasmania, 1,1011/3 bushels of such peas, A grade, of which that fim was the owner or possessor.

The claims are for compensation in respect of the peas so acquired.

Compensation means the value or money equivalent of the property. acquired or taken, so that the owner is put in

as good a position as he would have occupied if his property

had not deen taken. Usually the market value of a commadity isthe standard or measure whereby the value or pecuniary equivalent of the commodity can be ascertained. But there may be cases in which market quotations would afford no true criterion of value, for instance, if the market had been "rigged" or "cornered", and there may also be cases in which there is no market and therefore no market value.

In such cases the Courts would resort to other methods in determining value. The present. cases, however, present no such difficulties, for the market value of field or blue peas, A grade, on or about the 29th January 1942 ( the date of acquisition and the relevant date) was about 22/6 f.o.b. at the main ports of Tasmania.