Omega Trust Ltd and another v Wright Son & Pepper and another
Omega Trust Ltd and another v Wright Son & Pepper and another
- 1997
- Estates Gazette [1997] 18 EG 120-123(4) .
CA 17 December 1996. N sought a loan from O, who requested the second plaintiff (X) to provide part of the advance. At O`s request, W provided a copy of a valuation report they had prepared for N of three short leasehold interests - to be provided as security. The report made it clear that it was for O`s purpose only. W were not informed X would rely on the report. N defaulted on loan and plaintiffs claimed valuation negligent. Lower court held W owed duty of care to X and that disclaimer did not satisfy test of reasonableness under the Unfair Contract Terms Act 1977. W appealed. Appeal allowed.
DISCLAIMER
DUTY OF CARE
NEGLIGENCE
OMEGA TRUST CO LTD V WRIGHT SON & PEPPER AND ANOTHER
UNFAIR CONTRACT TERMS ACT 1977
VALUATION REPORT
VALUERS
CA 17 December 1996. N sought a loan from O, who requested the second plaintiff (X) to provide part of the advance. At O`s request, W provided a copy of a valuation report they had prepared for N of three short leasehold interests - to be provided as security. The report made it clear that it was for O`s purpose only. W were not informed X would rely on the report. N defaulted on loan and plaintiffs claimed valuation negligent. Lower court held W owed duty of care to X and that disclaimer did not satisfy test of reasonableness under the Unfair Contract Terms Act 1977. W appealed. Appeal allowed.
DISCLAIMER
DUTY OF CARE
NEGLIGENCE
OMEGA TRUST CO LTD V WRIGHT SON & PEPPER AND ANOTHER
UNFAIR CONTRACT TERMS ACT 1977
VALUATION REPORT
VALUERS