APPRAISERS and APPRAISEMENT. An appraiser is a person employed to value property, but he must be licensed for the office. Formerly. under the 55 Geo. III. c. 184, this annual license cost only 10s.; but by the 8 and 9 Viet. c. 76, s. 1, on the preamble that it is expedient to increase this duty, the provision of the 55 Geo. III. is repealed, and a duty of £2 substituted' for the 108. Such a license must now be taken out yearly by every person, except a licensed auctioneer, who shall exercise the occupation of an appraiser, or who, for any gain, fee, or reward, shall make any appraisement or valua tion chargeable by law with any stamp-duty (see Tilsley on the stamp-laws, 2d ed., p. 65).
By an old English statute, passed in the reign of Edward I., appraisers are enjoined to put a reasonable price upon goods; and if they appraise them too high, they are obliged to take them at their own valuation, and to be answerable accordingly to the creditor for his debt.
Appraisement, generally, is the act of valuation made by the appraiser; but in legal application in England, this term is used to signify a valuation of goods taken under a distress for rent by two appraisers, who are sworn by the sheriff, under-sheriff, or con stable, to value the goods truly, according to the best of their skill; and after such appraisement, the goods may be sold at the best price that can be procured.
The duties on appraisements are for £5 and under, 3d.; from £5 to £10. 6d.•, from £10 to £20, 18.; from £20 to £30, 1s. 6d.; from £30 to £40, 28.; from £40 to £50, 2s. 6d.; and where it shall exceed The exemptions from such duties are appraisements or valuations made in pursuance of the order of any court of admiralty or vice-admiralty, or of any court of appeals from any sentence, adjudication, or judgment of any court of admiralty or vice-ad miralty ; and appraisements or valuations of any property made for the purpose of ascertaining the legacy-duty payable in respect thereof.
The corresponding proceeding in Scotland is known under thp term appreciation, which has been defined as the valuing of poinded or distrained goods. And by time old Scotch law, these goods were valued twice by different valuators—once in the house or on the ground where the pounding took place, and a second time at the market-cross of the local jurisdiction or chief county town. But by the 54 Geo. III. e. 137, s. 4, one valuation In time place where the goods are, is declared in every case to be sufficient.