Predeth v Castle Phillips Finance Co Ltd (M Kent, Third Party)
Predeth v Castle Phillips Finance Co Ltd (M Kent, Third Party)
- 1986
- Estates Gazette 279 (6303) 27 September 1986, p1355-1359 (4) .
CA 9 July 1986. An appeal by defendant (D). High Court dismissed D`s claim against the third party, Mr Kent, a chartered surveyor , that he had failed to exercise reasonable professional skill and judgement in giving a valuation . His written instructions were to carry out a ` crash sale valuation ` of a bungalow in need of renovation; K valued it at £5,750. Later it was resold for £10,000; the judge held that in the market, the property would have fetched not less than £8,500 and awarded the plaintiff(P) damages of £2,500 with interest. There was no appeal against this decision. Certain findings by the judge were relevant to the third party proceedings against K. Before the `crash sale valuation` instructions were given to K, a subject to contract sale to Miss K for £5,500 (later altered to £6,000) had been negotiated to give her an opportunity of purchasing at a price which would give a profit on resale. Instructions to K were in terms to enable him to give the lowest valuation. Ku
NEGLIGENCE
Valuation
CA 9 July 1986. An appeal by defendant (D). High Court dismissed D`s claim against the third party, Mr Kent, a chartered surveyor , that he had failed to exercise reasonable professional skill and judgement in giving a valuation . His written instructions were to carry out a ` crash sale valuation ` of a bungalow in need of renovation; K valued it at £5,750. Later it was resold for £10,000; the judge held that in the market, the property would have fetched not less than £8,500 and awarded the plaintiff(P) damages of £2,500 with interest. There was no appeal against this decision. Certain findings by the judge were relevant to the third party proceedings against K. Before the `crash sale valuation` instructions were given to K, a subject to contract sale to Miss K for £5,500 (later altered to £6,000) had been negotiated to give her an opportunity of purchasing at a price which would give a profit on resale. Instructions to K were in terms to enable him to give the lowest valuation. Ku
NEGLIGENCE
Valuation