South Australia Asset Management Corporation v York Montague Ltd ; United Bank of Kuwait plc v Prudential Property Services Ltd ; Nykredit Mortgage Bank Plc v Edward Erdman Group Ltd
South Australia Asset Management Corporation v York Montague Ltd ; United Bank of Kuwait plc v Prudential Property Services Ltd ; Nykredit Mortgage Bank Plc v Edward Erdman Group Ltd
- 1996
- Estates Gazette [1996] 27 EG 125-132(8) .
HL 21 June 1996. In all three appeals there had been a negligent overvaluation of property offered as security for loans. Had the lender known the true value he would not have lent. The CA decided that in a `no-transaction` case the lender is entitled to recover the differencee between the sum lent and the net sum he actually got back. "Held" damages should be limited to the consequences of the valuations being wrong ie. the difference between the negligent valuation and the correct valuation.
FALLING MARKET
FALLING VALUES
MEASURE OF DAMAGES
NEGLIGENCE
NYKREDIT MORTGAGE BANK PLC V EDWARD ERDMAN GROUP LTD
PROPERTY VALUES
SOUTH AUSTRALIA ASSET MANAGEMENT CORPORATION V YORK MONTAGUE LTD
UNITED BANK OF KUWAIT PLC V PRUDENTIAL PROPERTY SERVICES LTD
VALUERS
HL 21 June 1996. In all three appeals there had been a negligent overvaluation of property offered as security for loans. Had the lender known the true value he would not have lent. The CA decided that in a `no-transaction` case the lender is entitled to recover the differencee between the sum lent and the net sum he actually got back. "Held" damages should be limited to the consequences of the valuations being wrong ie. the difference between the negligent valuation and the correct valuation.
FALLING MARKET
FALLING VALUES
MEASURE OF DAMAGES
NEGLIGENCE
NYKREDIT MORTGAGE BANK PLC V EDWARD ERDMAN GROUP LTD
PROPERTY VALUES
SOUTH AUSTRALIA ASSET MANAGEMENT CORPORATION V YORK MONTAGUE LTD
UNITED BANK OF KUWAIT PLC V PRUDENTIAL PROPERTY SERVICES LTD
VALUERS