For the security of dealings in markets, contracts were formerly required to be made in the presence of an officer ap pointed for that purpose by the lord of the market, for which service he received from the buyer a small remuneration sailed market-toll.
It is a rule of the common law that every sale in market-overt (open market) transfers to the buyer a complete pro perty in the thing sold ; so that however defective the title of the vendor may be, that acquired by the vendee is perfect, even where the property belongs to a per son who is under legal disability, as an infant, a married woman, an idiot, or a person in prison or beyond sea. In the city of London every shop is market overt for goods usually sold there.
But this rule is subject to certain ex ceptions. A sale in market-overt does not affect the rights of the crown : nor does it affect the rights of others, unless the sale be in an open place, as a shop, and not a warehouse or other private part of the house, so that those who go along cannot see what is doing ; it must not be in a shop with the shop-door or windows shut, so that the goo& cannot be seen. The articles bought must be such as the party usually deals in. The sale must be without fraud on the part of the buyer, and without any knowledge on his part of any want of title in the vendor. If the seller acquire the goods again, the effect of the sale in barring the true owner is defeated. There is no transfer of pro perty if the goods are given or pawned ; and if sold to the real owner it is not a contract of sale. The sale must be be tween sunrise and sunset, and must be commenced and completed in the mar ket.
By 21 Henry VIII. c. 2, If any felon rob or take away money, goods, or chat tels, and be indicted and found guilty, or otherwise attainted upon evidence given by the owner or party robbed, or by any other by their procurement,the owner or party robbed shall be restored to his money, goods, or chattels.' Since this
statute, stolen goods, specified in the in dictment, have, upon the conviction of the offender, been restored to the prose cutor, notwithstanding any sale in mar ket-overt.
As stolen horses can easily oe conveyed to distant markets, the legislature 'has frequently attempted to protect the owner against the consequences of a sale in mar By 2 and 3 Philip and Mary, C. 7, No sale of a horse stolen binds the property, unless it stand or be ridden an hour together between ten o'clock and sunset, in an open part of the market, and all parties to the bargain come with the horse to the book-keeper and enter the colour, and one mark, at the least, of the horse sold, and pay the toll, if any due, or else a penny.' The 31 Elizabeth, c. 12, contains numerous provisions on this matter.
By 1 James I. c. 21, No sale, exchange, pawn, or mortgage, of any jewels, plate, apparel, household stuff, or other goods, wrongfully purloined, taken, robbed, or stolen, and sold, uttered, delivered, ex changed, pawned, or done away, within London and its liberties, er Westminster, or Southwark, or within two miles of London, to any broker or pawn-taker, shall work or make auy change or altera tion of the property or interest.' A market is generally appointed to be held once, twice, or three times in a week, for the current supply of com modities, mostly of provisions. A large market held once or twice a year is called a fair ; and, according to Lord Coke, a large fair held once a year is a mart. Fairs have all the legal incidents of markets, and are subjected to further re gulations by 2 Edward III. c. 15, one of which requires, that at the opening of the fair, proclamation be made of the time that it is to continue.