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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

Language: English Series: Estates Gazette ; [1996] 27 EG 125-132(8)Publication details: 1996Subject(s): Summary: 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.
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Item type Current library Call number Copy number Status Barcode
Law report London Journal article ABS55622 (Browse shelf(Opens below)) 1 Available 17619-1001

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.

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