Creditor not liable for fall in value
Language: English Series: Daily Telegraph ; 29/1/90 p18Publication details: 1990Subject(s): Summary: In China and South Sea Bank Ltd v George Tan , Judicial Committee of the Privy Council 13 November 1989, it was held that in advising that the bank `s appeal should be allowed the Privy Council stated that no creditor could carry on the business of lending if he could become liable to a surety for a decline in value of mortgaged property unless the creditor were personally responsible for the decline.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| News article | London News article | WB2605-60 (Browse shelf(Opens below)) | 1 | Available | 66314-1001 |
In China and South Sea Bank Ltd v George Tan , Judicial Committee of the Privy Council 13 November 1989, it was held that in advising that the bank `s appeal should be allowed the Privy Council stated that no creditor could carry on the business of lending if he could become liable to a surety for a decline in value of mortgaged property unless the creditor were personally responsible for the decline.